Jin10 data reported on April 4th that European natural gas prices fell to the lowest level in four weeks, with the benchmark Dutch TTF natural gas futures contract price dropping below 40 euros per megawatt hour. Analysts from the Australia and New Zealand Banking Group stated, “Dragged down by crude oil sell-offs, the global natural gas market is declining. This market reaction may indicate that the market expects supply to increase.” Meanwhile, the gas inventory rate in the European Union is only 34.35%, and the region is facing a difficult start to the gas storage season. Analysts from Fitch’s research department noted, “The exemption of U.S. oil and gas imports should limit the immediate occurrence of supply-side issues, but the impact on demand could be significant and will continue to pressure energy prices.”
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