Warmer weather in Asia and Europe continues weighing on natural gas prices, offering a respite from supply concerns, particularly in Europe, where storage inventories keep filling up.
The Title Transfer Facility (TTF) was down across the curve Monday. Storage stocks in Germany, Europe’s largest gas consumer, were 99.5% full. European Union inventories are at 95% of capacity.
“The bulls seem to be giving up the fight, victims of bearish spot fundamentals,” said analysts at Engie EnergyScan in a note to clients Monday. But prices remain high compared to historical averages.
Analysts at Morgan Stanley on Monday lowered their forecast for European gas prices…