Natural gas prices expected to rise in the EU
July 26, 2022
Natural gas prices expected to rise in the EU
Today, EU natural gas futures rose above the 190 euro per megawatt-hour threshold because of persistent concerns about tighter European supply. From a technical point of view, the H4 - Daily charts get a “clear path” toward the record high from March, at a price of almost 300-350 EUR. Russia's Gazprom said it will reduce flows through the Nord Stream pipeline, citing turbine issues and delivering only 33 million cubic meters per day, which means about 20% of its capacity. This puts the EU region's targets of filling storage tanks to about 80% of storage capacity by winter at risk. Russia's use of natural gas as a weapon of war has triggered a rush for supply among other major buyers, such as Japan and South Korea, which are making plans to buy more gas for winter, fearing that Europe will similarly stockpile supplies at a faster pace.Trade natural gas
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Translated from the Romanian original with AI assistance.