.jpg)
4 hours ago
1
Article content
(Bloomberg) — European natural gas prices edged higher as some firms in Asia ramp up LNG purchases and seasonal maintenance tightens the market.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
Article content
Benchmark futures rose as much as 1.8% after retreating in the previous session. Attention is on global competition for liquefied natural gas cargoes after Chinese importers resumed buying on the spot market, a reversal of months of relative inactivity.
Article content
Article content
Europe’s gas prices have lost more than 15% since the start of April, when the US-led trade war started to weigh on the global economic outlook and prospects for energy demand. The drop has made it less challenging for Europe to replenish its heavily depleted fuel stockpiles, though current levels are still well below the five-year average.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
Resumed buying in other nations could make rebuilding inventories harder. Summer works are also cutting pipeline flows from Europe’s top supplier Norway, with some unplanned outages further curbing deliveries.
Article content
Meanwhile, the European Union is making progress on its long-held aim to cut off Russian energy supplies by 2027 and is set to unveil its plans on Tuesday. The EU will propose a ban on all gas purchases under new deals with Russia and existing spot contracts to take effect before the end of this year, according to a draft seen by Bloomberg.
Article content
Hopes for trade talks between China and the US are also on the rise after Treasury Secretary Scott Bessent said Washington could see “substantial progress in the coming weeks.”
Article content
Rebounding oil, to which some gas contracts are linked, provided additional support to prices as Chinese markets reopened after a holiday.
Article content
Dutch front-month futures, Europe’s gas benchmark, traded 1.4% higher at €33.38 a megawatt-hour as of 8:45 a.m. in Amsterdam.
Article content
English (US)