European Gas Prices Swing as Traders Track Demand, Stockpiles
- Benchmark futures fluctuate after tumbling 17% last week
- Mild weather seen in northwest Europe until mid-February
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European natural gas fluctuated as the return of warmer weather keeps a lid on heating demand, even as cheaper fuel brings the possibility of a rebound in industrial consumption.
Benchmark futures rose as much as 4.3%, reversing an earlier decline. A mild winter, fuel savings and strong inflows of liquefied natural gas have eased prices dramatically after a turbulent year. But keeping demand in control remains crucial for the region to cope with both this winter and the next after Russia’s record supply cuts.