European Gas Rises as Supply Risks Overshadow High Stockpiles
- EU fuel inventories are fullest on record for time of year
- Works and outages at gas facilities still pose risk to supply
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European natural gas advanced, after fluctuating earlier, with traders weighing rising fuel stockpiles against the risk of further supply constraints.
Benchmark futures rose as much as 3.2%, reversing an earlier decline. Competing drivers such as tepid demand and busy maintenance schedules among producers have kept uncertainty in the market, which is still recovering from last year’s energy crisis. Adding to some signs of bullishness, gas flows into a key export terminal in the US fell on Tuesday, indicating a possible outage.