Europe Natural Gas Futures – A 2023 Review

In 2023, the price of natural gas futures in Europe dropped by over 50%. This was a significant decrease to around €34 per megawatt-hour. The previous year, 2022, had seen an increase of 8.5%. The reason for this fall was a continuous low demand. This allowed the region to keep a good amount of gas reserves. On December 24th, the gas storage in the European Union was at 87.1%. Germany had 90.5%, France 84.5%, and Italy 83.5%. Northwestern Europe is expecting a warm start to 2024. This will likely result in less power demand and reduced natural gas usage. This follows a warm December. The economic outlook is challenging. This means there might not be a big increase in industrial consumption soon.

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Ethan O. Miller

Ethan O. Miller is a seasoned Forex analyst. His insightful articles offer a unique perspective on currency trends, aiding both novice and experienced traders in navigating the Forex market.

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