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Investing.com -- European natural-gas prices have seen a modest increase in early trading, but continue to linger below 35 euros per megawatt hour. This comes amidst various bearish indicators that might alleviate the strain on the region’s depleted gas reserves.
The benchmark Dutch TTF contract has risen by 1.3% to 33.89 euros per megawatt hour.
The region is currently grappling with the difficult task of replenishing its gas inventories to the required levels, following a cold winter that heightened demand.
In a recent development, ambassadors from European Union countries have supported a plan allowing members to deviate by 10% from the bloc’s mandate to fill gas storage to 90% of capacity by November 1. This proposal is now awaiting approval from the European Parliament.
As of now, EU gas caverns are filled to only 35.3% of their capacity, a significant drop from the levels seen the previous year.
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