European gas pauses 4-day surge; Depleted storage leaves floor under curves

European wholesale natural gas prices eased on Tuesday, retreating from fresh 2022 highs touched in the prior session as market participants paused to digest supply disruptions from Norway, though critically depleted regional storage buffers kept a solid structural floor under the curve.

The benchmark front-month contract fell for the first time in five trading sessions, easing to 96.29 euros per megawatt-hour (MWh) after settling at a four-year peak of 97.19 euros on Monday.

Across the North Sea, the British equivalent similarly softened to 238.00 pence per therm, stepping back from Monday’s finish of 239.33 pence as prompt delivery pressure temporarily subsided.

Norwegian pipeline disruptions compound geopolitical jitters The minor pullback follows an aggressive surge on Monday driven by unexpected supply curtailments across Europe’s primary pipeline supplier:

This story was originally published by Hellenic Shipping News. Read the full story at Hellenic Shipping News →