In gas, the prices of natural gas in Europe extended the falls per second consecutive session in the early trading session of today, after falling around 4.7% week by week until last Friday, the Ing raw material analysts point out, Warren Patterson and Ewa Manthey.
Gas prices under pressure as the heating season ends
“The prices were pressed as the heating season came to an end, and the market approach moved to the resupply of inventories for next winter. Together with that, the warmest climate forecasts and the strong liquefied natural gas flows are weighing even more about prices.”
“Meanwhile, the new storage season begins on April 1, while concerns about the rhythm of storage injections persist, given the low level of inventories. GIE’s latest data shows that the storage is at 33.7% of its capacity as of March 29, below the five -year average of 45% and less than 58.7% seen in the same stage last year.”
“China has issued its second batch of export fees for clean products, with 12.8mt of exports assigned to refineries. The export quota has decreased by 8.6% compared to last year. In its first quota, China allowed refineries to export around 19mt of clean products, similar to the first quota by 2024.”
Source: Fx Street

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