European natural gas prices rebound after China's tariffs on U.S. LNG
Investing.com -- European natural gas prices have experienced a surge following a more than 3% drop in the previous trading session.
This fluctuation was triggered by the news of China's retaliatory tariffs on U.S. liquefied natural gas (LNG) imports. According to ANZ Research analysts, this move might result in a larger presence of U.S. LNG in the Atlantic, thereby increasing the demand for this super-chilled fuel in other regions.
The possibility of having more U.S. LNG in the European market has alleviated concerns regarding shortages that have surfaced this year. Despite this, the fast-depleting inventories across Europe continue to be a primary concern, maintaining a steady price level in the market.
The benchmark Dutch Title Transfer Facility (TTF) contract has seen an increase of 1.2%, reaching 52.65 euros per megawatt hour. This comes after the contract surpassed the 54 euros mark earlier this week.
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