Europe Gas Prices Fall on on Strong Supply
- Unseasonably mild weather is expected well into late November
- European market remains tight, prone to prive volatility
An LNG power plant in Brandenburg, Germany.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
European natural gas eased on Tuesday with the market so brimming with supplies that even the potential shutdown of an LNG plant in Texas isn’t worrying traders for now.
Benchmark futures fell as much as 2.4% on Tuesday, after a modest increase late Monday after news of the issues at the Freeport LNG export plant. Storage tanks that are more than 99% full, and mild weather, are helping reduce price sensitivity.