European Natural Gas Prices Drop After Surge - The Wall Street Journal
European Natural Gas Prices Drop After Surge - WSJ
0816 GMT – European natural gas prices weaken after surging as much as 40% on Wednesday. TTF gas futures drop 5.8% to EUR37.45 a megawatt hour. Reports that workers at key LNG export facilities in Australia were planning strike action meant the contracts closed up over 28% on Wednesday. The sharp jump highlights how volatile the market remains to supply disruption. Still, prices remain sharply lower than last winter and Wednesday’s gains only marked a two-month high. “Despite some supply and demand side factors indicating a tighter market, Europe’s gas stockpiles will ultimately determine how shortage fears materialize in coming months,” says CBA in a note. European gas storages are well above average levels and are predicted to be close to full well before winter begins. ( william.horner@wsj.com)
Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Continue reading your article with
a WSJ subscription
Subscribe Now
Already a subscriber? Sign In
What to Read Next
- TurboTax: Save up to $15 with TurboTax coupon May 2023
- The Motley Fool: Epic Bundle - 3x Expert Stock Recommendations
- H&R Block Tax: 15% OFF DIY Online Tax Filing Services | H&R Block Coupon
- Top Resume: 10% TopResume discount code for expert resume-writing services
- eBay: +30% Off today with this eBay coupon*
- Groupon: 25% Off Groupon Promo Code - Valid Sitewide on Enter Order