Natural Gas Price Falls, but Europe’s Winter Storage Crunch Keeps Traders on Edge
European natural gas prices slipped on Wednesday, giving back more of this week’s earlier gains as traders digested Brussels’ warning that a prolonged Gulf supply disruption could still trigger new price surges. The benchmark Dutch TTF front-month contract last changed hands near 41.4 euros per megawatt hour, off 4.5% from Tuesday’s settlement and a sharp retreat from Monday’s peak of 51.3 euros. This comes as Europe moves into the crucial summer period for refilling gas stocks ahead of next winter. Most of the bloc’s supply comes from Norway and the U.S.—not the Gulf—but Brussels isn’t feeling comfortable. Officials last month warned governments to kick off injections earlier than usual, after storage levels dropped to around 28% capacity. The EU still faces risk from global price swings.