EU Natural Gas - 2023 Data - 2010-2022 Historical - 2024 Forecast - Price - Quote

Dutch front-month futures, Europe’s gas benchmark, traded around €42 per megawatt hour, close to levels last seen in August 2021. The European benchmark is more than 85% down from record levels of nearly €350 hit in August last year as an unusually warm winter allowed stockpiles to remain above normal levels and the spring starts in less than a month. European gas storage tanks are 61% full, the highest on record for this time of the year, as the region reduced gas consumption, and was able to substitute the usual Russian supply with LNG imports from the US and Qatar. Meanwhile, the latest weather forecast point to below-seasonal temperatures across northwest Europe and the Nordics until mid-April. Looking ahead, investors will be monitoring how the European Union prepares for next winter, at a time when the fall in prices could boost demand in the industrial and power sectors and a pick-up in demand from China could raise competition for liquefied natural gas. Historically, EU Natural Gas reached an all time high of 345 in March of 2022.