Europe's Gas Price Eases on Warmer Weather Forecast
1215 GMT – European natural-gas prices continue to trade below the 50-euros-a-megawatt-hour mark amid warmer weather forecasts and EU talks to relax storage targets. 'Warmer than normal temperatures are expected by the end of the week, which should dent gas demand,' DNB Markets DNB -0.64%decrease; red down pointing triangle analysts say. Meanwhile, imports of LNG should continue to be high in the coming weeks. 'It is very much needed for Europe to get through the heating season and rebuild inventories into next year,' they say. EU storage levels are only 42.6% full, according to data from Gas Infrastructure Europe, but the European Commission is reportedly set to work with member states to allow for more flexible refilling requirements. The benchmark Dutch TTF contract trades 0.6% lower at 47.96 euros a megawatt hour. (giulia.petroni@wsj.com)
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