European natural gas futures rose over 8% to above €42/MWh this week, ending a four-week losing streak, as colder weather increased heating demand and the market monitored potential ceasefire talks between Ukraine and Russia. Concerns persist over Europe's ability to refill gas storage ahead of winter, with current levels below 36% and a 90% target set for November 1. Hopes for a quick end to the Ukraine war, which could restore Russian gas flows, remain low. While Russian President Vladimir Putin expressed conditional support for a US-proposed ceasefire, his demands suggest no imminent resolution.
You are viewing a single comment's thread from: