European Industry Boosts Natural Gas Consumption As Prices Drop ...Middle East

OILPRICE - Economy
European Industry Boosts Natural Gas Consumption As Prices Drop
source : OILPRICE ( Middle East ) () 41
As natural gas prices in Europe fell to a 20-month low, industries are switching back to using gas in a tentative sign that European industrial gas demand is rising. The front-month futures at the TTF hub, the benchmark for Europe’s gas trading, slumped earlier this week to below 40 euros ($43.52) per megawatt-hour (MWh), the lowest price since July 2021, as temperatures were rising, wind power generation was strong, LNG supply ample, and gas inventories way above the average for the end of the winter.  The refining industry, where the…

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