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Natural gas prices to trade mostly flat, says Fitch Solutions

Oil&Gas Materials 7 October 2022 11:53 (UTC +04:00)
Natural gas prices to trade mostly flat, says Fitch Solutions
Laman Zeynalova
Laman Zeynalova
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BAKU, Azerbaijan, October 7. Easing concerns of supply crunch in Europe continue to soften prices in the lead up to the peak demand season, Trend reports via Fitch Solutions.

The latest report from the company reveals that European natural gas inventories will end the week at 90 percent of capacity, well ahead of the targeted
November 1st deadline, helping to position the market for sufficient supplies if the winter remains within the normal range of temperatures.

“Stronger fundamentals have help lower UK NBP price by 48 percent and Dutch TTF by 42 percent from August highs. A recent cold snap did see prices rise but mild weather in the forecast is likely to see prices to remain near their current levels of GBp310/ therm for UK NBP and EUR180/MWh for Dutch TTF in the near-term. We anticipate the natural gas prices will trade mostly flat to end the year with bouts of volatility due to weather events and Russian Ukrainian spillover, likely to fuel short-term price movements. We hold our forecast for UK NBP to have an average annual forecast to GBp320/therm and Dutch TTF to average EUR150/ MWh in 2022,” said the company.

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