European natural gas prices experience a temporary dip due to increased wind power generation, but concerns about a potential hurricane disrupting US LNG exports and future winter demand keep the market volatile.
European benchmark natural gas prices fell around noon local time on Tuesday as the region’s first colder wave brought a lot of wind and powered a higher share of electricity in key markets. The Dutch TTF Natural Gas Futures, the benchmark for Europe’s gas trading, were down by 2.4% at $40.17 36.43 euros per megawatt-hour MWh at 1141 a.m. in Amsterdam.
Europe’s gas prices are set for volatility in the coming hours and days amid additional concerns about supply and a possible jump in demand in case wind power generation in North Europe falters. European gas traders are carefully watching the tropical storm Francine in the U.S. Gulf of Mexico, which is strengthening and expected to become a hurricane on Tuesday and make landfall in Louisiana on Wednesday. Francine could make landfall near Cameron, Louisiana, where some of the newest U.S.
Dutch TTF Benchmark Wind Power Natural Gas Demand LNG Exports Asia Hurricane Francine US Supply Gas Storage Winter Heating Season
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