European gas prices fall as mild weather eases demand

European natural gas prices fell to €45.3 per megawatt-hour, the lowest in nearly four weeks, as mild and windy weather alleviated pressure on inventories.

European gas prices fall as mild weather eases demand

Over the weekend, Storm Darragh enhanced wind power generation in the UK, reducing the need for gas in electricity production. While temperatures are expected to drop briefly and wind speeds to slow, forecasts indicate mild and windy conditions will return next week, keeping gas demand low. Additionally, European LNG imports have reached their highest level since January, with multiple shipments arriving despite storm-related delays. In Asia, weak demand in China has led the country to resell LNG cargoes, taking advantage of higher spot prices.

Russia eases gas payment rules, alleviating disruption concerns

Meanwhile, Russia has relaxed payment rules for gas purchases, easing concerns over potential disruptions. Buyers can now use third-party banks to convert payments into rubles and transfer them to Gazprombank, bypassing issues related to US sanctions.