Natural Gas market movers: Near term turns bearish
- Europe is reporting the highest Gas storage levels in years with the heating season ending and less need to refuel ahead of the next heating season.
- Norwegian Gas flows to the UK and Northwest Europe are rising after some unplanned maintenance.
- Meanwhile, more demand comes out of Asia, where Coal prices have rallied and Gas is now cheaper for electricity production.
- Ukraine Energy Minister German Galushchenko said on Tuesday that expiring Russian Gas contracts for deliveries will not be rolled over for another period, further reducing Russian gas inflows into Europe.
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