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Investing.com -- European natural-gas prices declined Wednesday as market participants interpreted President Trump’s 50-day ultimatum to Russia as a more measured approach than initially feared, reducing concerns about immediate supply disruptions.
The benchmark TTF gas contract dropped 1.7% to €34.85 per megawatt hour in midday trading.
While the immediate market reaction was positive, analysts at Rabobank noted that Trump’s deadline coincides with Norway’s scheduled seasonal gas maintenance in late August, which could create new uncertainties for European gas markets.
Adding to potential supply challenges, rising temperatures across Asia are expected to increase gas demand in that region. This could divert liquefied natural gas (LNG) cargoes away from Europe at a critical time when the continent needs to strengthen its gas reserves ahead of winter.
The combination of these factors may still pose risks for European energy security despite the temporary easing of market concerns.
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