European Gas Price Rises Amid Warm Weather, Asia LNG Demand
1034 GMT – European natural-gas prices rise in midday trade, with the benchmark Dutch TTF contract up 0.8% at 36.22 euros a megawatt hour. Storage levels across the EU are over 52% full, data from industry group Gas Infrastructure Europe shows. However, warm weather across the region is increasing the use of air conditioning. Meanwhile, investment funds increased their net positioning in TTF by 16 terawatt hours last week to a total of 111 TWh, according to DNB Markets DNB -0.25%decrease; red down pointing triangle analysts. In Asia, liquefied natural gas demand is rebounding as China returns to the spot market after months of subdued activity due to high prices. Rising demand tightens global LNG supply, often reducing availability for Europe–particularly as summer competition intensifies. (giulia.petroni@wsj.com)
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