Europe Gas Returns to Weeks-Long Range as Flows Ease Demand Risk

European natural gas prices have snapped back into a range they were trading in for weeks as traders wait for further clues on how the heating season will unfold, with steady fuel supplies offsetting cold weather risks for now.

Benchmark futures nudged lower for a third day, after briefly breaking out of their recent band earlier this week. An early cold spell has already raised heating demand in parts of the region, and some weather models point to below-average temperatures taking hold in the coming days.