European Gas Jumps as EU Outlines Plan to End Russian Supply

European Gas Jumps as EU Outlines Plan to End Russian Supply

European natural gas jumped as traders assessed a range of bullish drivers — from a sharp rebound in oil prices to the region’s plans for a gradual phase-out of Rus…

European gas storage injection surge since end of April

EU storage injections surged since the end of April, putting the EU on track to reach its 80-90% fill target by the beginning of the next heating season. EU storage injections stood 70% above last year’s levels since the start, totalling at near 7 bcm, and boosting EU storage levels to above 40% of working capacity by early May. The surge in LNG imports (up by 20% yoy), together with weaker demand in the second half of April (partly on strong so…

European Gas Prices Surge Amid Asian Demand and Norwegian Supply Disruptions

European natural gas prices rose sharply on Monday, driven by increased competition from Asian buyers and a drop in pipeline deliveries from Norway. The Dutch TTF benchmark futures jumped by 4.3%, marking the largest single-day gain in the past month, according to data cited by Bloomberg. The renewed upward pressure on prices follows a resurgence in Chinese spot market purchases of liquefied natural gas (LNG). After a prolonged absence, Chinese …