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🖥️EUROPEAN NATURAL GAS FUTURES PLUNGE

🖥️EUROPEAN NATURAL GAS FUTURES PLUNGE

Day: 09 | Time: 11:03:16 European natural gas futures have fallen to €32 per megawatt-hour, the lowest level in the past seven weeks, due to weak demand and high inventories that outweigh supply concerns. Gas reserves in Europe are nearly 78%, according to Gas Infrastructure Europe. Additionally, mild weather forecasts for major energy markets such as the UK, Germany, and France are expected to alleviate demand pressures. In contrast, high temperatures in Asia are increasing global competition for liquefied natural gas shipments. Furthermore, Freeport LNG has reduced production almost to zero due to Hurricane Beryl hitting Texas and causing disruptions in liquefied natural gas operations.