European Gas Hits Four-Year High Above €97 As Oil Futures Fall
Photo: TokenPost
European natural gas prices rose above €97 per megawatt-hour Monday, reaching a four-year high amid Iran-war supply disruptions and weather-related demand concerns. The move contrasted with declines in crude oil and U.S. natural gas futures. European gas storage was at its lowest level for this time of year since 2009. The storage figure adds context to the supply concerns behind the price increase, while weather forecasts also shaped the market. U.S. natural gas futures fell as forecasts shifted toward warmer conditions. Oil futures also declined Monday as traders considered diplomatic efforts to ease U.S.-Iran hostilities.
Source: TokenPost
