Natural Gas Prices in Europe Near One-Month Highs

Forex - European natural gas prices are trading close to their highest levels this month due to storage levels depleting faster than normal and the impending expiration of the Ukraine-Russia gas transit agreement. Benchmark futures prices initially rose by up to 2.5% in early trading before easing slightly. The expiration of the Russia-Ukraine gas transit agreement on January 1 coincides with colder weather forecasts across much of Europe, potentially increasing gas demand for heating. The gas storage level in the EU is at 73.55%. Natural gas prices at the Dutch TTF are trading at €47.35/MWh.