Share this Story: European Gas Swings as Cooler Weather Approaches Next Week [Financial Post (Toronto, Ontario, Canada)]
Maxar Technologies Inc. (MAXR)
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Source: Financial Post
(Bloomberg) — European natural gas futures fluctuated as traders weighed colder weather approaching next week against ample supplies. Advertisement Benchmark futures advanced as much as 6% on Wednesday before erasing gains. Temperatures will drop below normal from Rome to Berlin and Stockholm next week, according to forecaster Maxar, though are generally expected to be milder than usual for the rest of the month. “The relatively mild weather this winter in most of Europe has been fortuitous, with gas consumption down on seasonal averages and gas storage stocks remaining robust,” Deepa Venkateswaran, an analyst at Sanford C Bernstein & Co LLC, said in a note. Read more: Mild February Will Help Extend Europe's Gas Storage Buffer The cold spell next week signals the possibility of heavier withdrawals from the region's gas storage sites, though inventories are still almost 73% full and well above average levels of the last five years. How low they get by the end of the winter w
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