Europe’s Winter-Gas Price Slump Shifts Focus to Summer Storage
- Contracts through spring 2024 are trading in a narrow range
- Inventory refill next year will become a major focus
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European natural gas prices slumped, shrugging off a cold snap across much of the continent in a sign that traders are starting to shift their focus to the next season.
Benchmark front-month futures closed 4.9% lower at €38.13 a megawatt-hour — just above the level of the contract for April, which marks the start of the six-month summer season.