European Gas near two-month lows as shipping normalizes

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European natural gas prices reached near two-month lows influenced by normalized shipping traffic through the Strait of Hormuz and eased Middle East supply concerns. Despite a regional heatwave increasing short-term demand, market factors kept prices subdued around 40 euros per megawatt-hour.

European natural gas prices firmed, but remained pinned near two-month lows on Friday, as the normalization of maritime traffic through the Strait of Hormuz and a broader cooling of Middle East supply risks outweighed short-term demand pressures from a regional heatwave. The benchmark Dutch Title Transfer Facility (TTF) traded around 40 euros per megawatt-hour, while ...