Gas prices are selling off – ING
Source Fxstreet
European natural gas prices continue to sell off, with Title Transfer Facility (TTF) falling 3.89% yesterday, ING's commodity experts Ewa Manthey and Warren Patterson note.
EU storage continues to build
"It traded down to a seven-week low. De-escalation in the Middle East might ease concerns over potential LNG supply disruptions. Meanwhile, EU storage continues to build with it currently standing at 57% full, down from 76% at the same stage last year."
"This is similar to 2022 levels. The market remains finely balanced, so we expect further downside in prices to be limited in the short to medium term."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
U.S. May PCE Preview: Tariff Inflation Effects Continue to Delay – Can the U.S. Market Ignore the Report?On Friday, June 27, the U.S. will release Personal Consumption Expenditures (PCE) price index for May, widely regarded as the Federal Reserve’s preferred inflation gauge and a key reference for FOMC officials in assessing inflation trends and shaping monetary policy decisions.
On Friday, June 27, the U.S. will release Personal Consumption Expenditures (PCE) price index for May, widely regarded as the Federal Reserve’s preferred inflation gauge and a key reference for FOMC officials in assessing inflation trends and shaping monetary policy decisions.
Stock futures in the United States opened Thursday night flat, but the S&P 500 still managed to press its face against a fresh record.
The Japanese Yen (JPY) weakened across the board during the Asian session on Friday in reaction to data showing that consumer inflation in Tokyo slowed sharply in June.
Ethereum price started a fresh increase above the $2,450 zone. ETH is now correcting gains from $2,520 and might slip to test the $2,320 zone.
Gold price (XAU/USD) attracts fresh sellers following the previous day's directionless price move and slides back below the $3,300 mark during the Asian session on Friday.
