Europe’s Gas Prices Slump By 11% On Warmer Weather Forecasts

The benchmark natural gas price for Europe plunged by 11% at the opening in Amsterdam on Tuesday, extending this month’s loss to 20%, as wind generation is expected to recover and the current cold snap to end soon. The Dutch TTF price traded at below $65 (60 euros) per megawatt hour (MWh) early on Tuesday after forecasts started to show that milder temperatures are coming next week in northwest Europe after the current cold snap. The warmer weather would persist through the first week of February, per forecasts from Maxar Technologies quoted…