European Gas Falls as Balance of Supplies Offset Hurricane Risk
- High inventories, steady flows are keeping prices in check
- Traders are watching hurricane Beryl’s impact on exports
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European natural gas prices fell as traders assessed the region’s sturdy stockpiles against the impact of a hurricane in key fuel supplier Texas.
Benchmark futures fell as much as 3.1% on Monday, erasing earlier gains. The price swings signal that Europe remains sensitive to global disruptions — from unplanned outages to demand spikes in other parts of the world — even though the continent’s gas inventories are well-stocked for the time of year. Prices have risen about 18% since traders began stockpiling in April.