Investing.com — European natural gas prices have experienced a minor decrease, but remain at high levels. The benchmark Dutch TTF contract traded 1.5% lower, at 48.37 euros per megawatt hour.
The European gas market continues to exhibit signs of unease, with gas prices surpassing 50 euros per megawatt hour last Thursday.
According to Commerzbank (ETR:CBKG), the current high rates of gas withdrawals from storage units are worrisome. In its most recent quarterly report, the International Energy Agency (IEA) highlighted the delicate equilibrium of the global gas market, as noted by Commerzbank analysts.
The analysts also pointed out that the growth of renewable energy sources and increased fuel costs might reduce the reliance on gas-based power generation.
This could potentially balance the increased demand from private households and industries. Yet, this equilibrium could be disrupted by the heightened demand from storage facilities and the cessation of Russian pipeline deliveries, as stated by Commerzbank.
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This post is originally published on INVESTING.
