Share this Story: Europe Gas Jumps With Weather Forecasts Turning Cooler Next Week [Financial Post (Toronto, Ontario, Canada)]
Maxar Technologies Inc. (MAXR)
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Source: Financial Post
(Bloomberg) — European natural gas rebounded as forecasts showed the weather turning cooler than previously estimated next week. Benchmark futures for March jumped as much as 11%. Some models estimate temperatures will drop again after a warm spell, potentially boosting gas usage in heating and forcing more withdrawals from fuller-than-normal storage sites. Maxar Technologies Inc. sees cooler conditions in northern and central Europe next week, but still close to average levels for the time of year. Snaps of cold weather are keeping the energy crisis alive, even though much of the sting has gone out. Gas prices are heading for a second monthly decline, and confidence is mounting that inflation has passed its peak and a recession could be averted. But the market is still sensitive to any signs of increase in consumption and the weather has been the main driver. “Lower demand for gas, with plenty in storage, had reduced risk until this point,” said Tim Partridge, head of energy t
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