Natural Gas Slups, Deep Selling In European Gas Market Weighs

30 Aug 2022 , 01:30 PM

Global Natural Gas markets saw intense movement yesterday. European natural gas prices tumbled by nearly 20% on Monday as German Economy Minister Robert Habeck said over the weekend that the country remains on track to meet its target of filling inventories to 85% of capacity by October. Germany is Europes largest gas consumer. Its gas inventories are currently at 82.7%, according to the Federal Network Agency. This also had a ripple impact on US Natural Gas futures and the commodity tanked from $9.70 per mmbtu to $9.35 per mmbtu. The contract fell further today and is currently trading down 1% at $9.23 per mmbtu.Prices had tested a one week low near $9 per mmbtu in last session. Powered by Commodity Insights