Commodities
European Gas Prices Post Biggest Weekly Decline Since January
- Buyers near gas deal with Azerbaijan, Bloomberg reported
- Mild weather, ample storages are contributing to bearishness
This article is for subscribers only.
European natural gas prices registered their biggest weekly decline since January, with optimism on Ukraine transit flows contributing to the bearish momentum.
Benchmark futures for December delivery closed 3.5% lower on Friday, capping a weekly drop for the front-month contract of almost 10%. That’s the biggest percentage reduction since the week ended Jan. 19.