The price of gas in Europe decreased by 25% due to the mild weather in winter

The price of gas in Europe decreased by 25% due to the mild weather in winter
The price of gas in Europe decreased by 25% due to the mild weather in winter
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Natural gas prices in Europe witnessed a new decline, which reached 25% since the beginning of this year, due to high stocks and mild weather despite the winter season.

The Spanish newspaper 20 Minotos indicated that the Dutch fund increased the price of gas by 3%, to 56.50 euros per MWh. Thus, it is the third time that gas prices have decreased since the beginning of the year, until the decline reached 25%.

The weather forecast indicates that temperatures will rise in the coming days in the countries with the highest gas consumption in Europe, and that more moderate temperatures will reach northwest Europe next week after the current cold snap.

And the newspaper pointed out that gas stocks in the European Union will remain unusually high at this time of the year, as they are 77% full throughout the European Union and well above the five-year average for the winter heating season..

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The large volumes of stored gas and the steady flow of LNG cargoes ease supply concerns in the absence of Russian gas through the pipeline..

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“We can afford to be more optimistic,” Deutsche Bank AG analysts wrote in a note this week. “Gas storage is increasing and gas prices are falling, inflation is falling and uncertainty is decreasing.”.”

On the other hand, in Germany, the largest economy in Europe, the German Federal Network Agency said that it “considers that the situation is less tense than it was at the beginning of winter.”“.

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