European Gas Slips But Futures Positioning Turns Bullish
1130 GMT – European natural gas prices fall in afternoon trade, with the benchmark Dutch TTF contract down 0.8% to 36.32 euros a megawatt hour. However, analysts say there is likely limited room for prices to decline over the summer amid renewed investor confidence and supply concerns. Investment funds increased their net position in TTF gas futures by 5 terawatt hours last week, according to DNB Markets DNB -0.61%decrease; red down pointing triangle. 'The recent decline in net positioning, triggered by the turmoil following Trump's Liberation Day on April 2, has now reversed,' analysts at the firm say. Meanwhile, prices also find underlying support in supply-side issues following an outage of uncertain duration at a gas field in Norway and lower LNG send-outs. (giulia.petroni@wsj.com)
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