European Gas Slides on Subdued Demand and Contained War Outlook
- Mild, windy start to November reduces demand for gas
- Impact of Middle East conflict on flows seen limited for now
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European natural gas prices declined for a second day as November kicked off with a windy weather outlook and optimism that the war in the Middle East might not impact global fuel flows.
Benchmark futures for December declined 0.5% after settling 9.5% lower the previous day. The continent is heading toward winter with full storage sites, and a mostly mild autumn hasn’t yet led traders to tap inventories.