Fannie Mae, Freddie Mac shares tumble after conservatorship comments
Investing.com -- European natural-gas prices moved higher in midday trade, with the benchmark Dutch TTF contract rising 0.8% to €36.22 per megawatt hour.
Storage levels across the European Union currently stand at more than 52% full, according to data from industry group Gas Infrastructure Europe.
Warm weather across the region is driving increased use of air conditioning, putting upward pressure on gas demand.
Investment funds have expanded their net positioning in TTF by 16 terawatt hours last week, bringing the total to 111 TWh, DNB Markets analysts reported.
In Asia, liquefied natural gas (LNG) demand is showing signs of recovery as China returns to the spot market after a period of reduced activity caused by high prices.
The increasing Asian demand is constraining global LNG supply, which often leads to decreased availability for Europe, especially as competition for supplies intensifies during summer months.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.