European natural gas futures fell 5% to below €31 per megawatt-hour, their lowest level in five weeks, as milder weather forecasts eased near-term demand and reduced pressure on already tight supplies. Weather models indicate above-normal temperatures across parts of Europe in the coming days, offering some relief after a volatile start to the year and slowing the pace of withdrawals from storage.
Gas inventories across the European Union remain low at under 34% of capacity, the weakest level since the 2022 energy crisis, with stocks in Germany particularly depleted at below 24%. In addition, US natural gas prices have dropped to a four-month low due to warmer weather, boosting the availability of LNG for export to Europe.
