It increased its prices due to the forecasts for more cold and the risks of supply threatening to limit the world market. Reference contracts won up to 2.7% today (25.11.2024), while they have increased nearly 20% since early November, according to a Bloomberg report. Temperatures in northwestern Europe are expected to fall again in the next few days after a mild start of the week. Meanwhile, Woodside Energy discontinued the operation of the Pluto liquefied gas plant in Australia due to an unplanned shutdown, strengthening the wider supply concerns. Cold conditions and low winds in Europe led to faster than usual withdrawals from gas storage areas this month. While they are still full of 88%, faster fuel consumption makes the area more vulnerable at the end of winter and in next summer’s storage campaign.
Forecasts for colder in Europe raise gas prices higher
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