European natural gas prices stay high, despite slight dip
Investing.com -- European natural gas prices have slightly decreased but remain close to their 15-month peak. The Dutch TTF benchmark, a key indicator of natural gas prices, fell by 0.9% to 53.32 euros per megawatt hour.
Despite the current high prices, market projections suggest a potential decrease in the future. Analysts anticipate a significant influx of Liquefied Natural Gas (OTC: LNGLF ) (LNG) to hit the market in 2026, which could lead to a decline in prices.
The European Union (EU) is in need of more LNG to achieve its target of filling 90% of its storage by November 1. However, the bloc's inventories have been rapidly depleting, and it barely met the February 1 target of having 50% of its storage filled.
As of the most recent data on Sunday, EU's gas storage was 52.6% full. Germany, in particular, has seen high daily net withdrawals due to a lack of wind power generation.
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