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European natural gas prices rise for seventh consecutive day, warming weather boosts demand
May 22, natural gas prices in continental Europe rose for the seventh consecutive trading day. Although maintenance operations in Norway, the largest supplier, have ended, the weather is forecast to turn warmer and summer cooling demand is expected to surge. Germany and the Nordic region are expected to experience abnormally high temperatures next week, which supportspennbattle32500dxIncreased natural gas prices. Benchmark futures prices hit a new high in more than a month yesterday, climbing to 2.pennbattle32500dx.7% increase. At the same time, geopolitical tensions have intensified and traders remain highly vigilant about the possibility of supply disruptions. Data from Standard & Poor's Global Commodity Insights shows that industrial natural gas demand continues to grow in six major European countries: Germany, Italy, the Netherlands, the United Kingdom, France and Spain.