European natural gas prices came under pressure yesterday with the TTF front-month contract settling a little more than 6.7% lower on the day and trading to its lowest level since early October.
Short-term fundamentals remain bearish with storage continuing to edge higher.
European gas storage is now more than 99.6% full, which is a record level. All eyes will be on when the heating season gets underway and storage starts to draw, particularly given that storage is essentially full.
Source: ING
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