Commodities
European natural gas holds up as storage remains tight
ING says EU gas storage is just above 50%, below the five-year average, even as demand rises amid heatwaves.
ING’s Warren Patterson said European natural gas prices have held up better than oil as LNG supply recovery has been modest and Middle East flows remain disrupted, according to FXStreet.
He added that heatwaves have boosted demand, leaving EU storage just above 50%, well below the five-year average.