Europe Gas Swings as Winter Risks Counter Easing Israel Concerns
- Benchmark Dutch gas futures fluctuate after dropping earlier
- Goldman Sachs sees winter prices flat if no supply shocks
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European natural gas fluctuated, with traders weighing winter risks against reduced concerns about short-term supplies from the Middle East.
Benchmark futures swung between modest gains and losses after dropping more than 4% earlier. Windy weather and above-normal temperatures are expected in parts of Europe this week, exerting pressure on prices. In addition, Israel’s gas flows to Egypt have increased after Chevron Corp. resumed output at its major Tamar field, meaning more capacity for liquefied natural gas exports to Europe from the north African country.