European natural gas prices increase
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European natural gas futures surged above €48.2 per megawatt-hour on Tuesday, nearing the one-year high of €48.7 reached at the end of last week, as higher demand forecasts amplified concerns over supply uncertainty.
Gas flows through Ukraine expected to cease Additionally, Russian gas flows through Austria and Slovakia remained below pre-supply halt levels. These developments come as gas flows through Ukraine are expected to cease by the end of December due to ongoing conflicts in the Russia-Ukraine war, while European gas storage levels are 88% full, 10 percentage points lower than last year at this time.
European natural gas prices increase
Predictions of colder weather across Europe in early December boosted expectations for increased heating demand. Meanwhile, supply to Europe remained uncertain in the coming weeks. Russian gas exports via Ukraine were stable last week despite ongoing contract disputes between Gazprom and Austrian OMV, which had earlier caused temporary disruptions.Gas flows through Ukraine expected to cease Additionally, Russian gas flows through Austria and Slovakia remained below pre-supply halt levels. These developments come as gas flows through Ukraine are expected to cease by the end of December due to ongoing conflicts in the Russia-Ukraine war, while European gas storage levels are 88% full, 10 percentage points lower than last year at this time.