Europe Gas Slumps to Lowest Since 2021 As Mild Weather Cuts Use
- Benchmark futures drop to lowest since November 2021
- Warmer-than-normal temperatures set to persist across region
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Natural gas prices in Europe fell back to pre-war levels, as a bout of mild weather reduced demand and eased fears of a prolonged supply crunch.
Benchmark futures fell as much as 11% as a warm spell curbs heating demand and blustery conditions cut use of gas in power generation. Mild weather has spread across the region, with temperatures breaking monthly records in several locations at the start of January.