Germany Asks for Gas Storage Exemptions, Sending Prices Tumbling
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European gas futures tumbled the most since early 2024 after Germany called for exemptions from the European Union’s storage filling targets this year, amid fears that the requirement is driving market speculation and pushing up prices.
In a meeting of the Gas Coordination Group in Brussels on Thursday, countries took turns to express their concerns about how the bloc’s storage targets are contributing to rising gas prices. Berlin said that traders expect member states to have to intervene to make sure those goals are met and called for greater flexibility to help damp this expectation, according to people familiar with the matter who were not authorized to speak publicly.