Slowing Asian demand leads to lower natural gas prices in Europe

Jin10 data, July 9th news, as signs show that Asia’s demand for fuel will decrease in the late summer, European natural gas prices are falling, and the previous heatwave led to an increase in natural gas consumption. On Tuesday, the benchmark futures price fell by 2.2% at one point, hovering around 32 euros per megawatt-hour. Europe competes with Asia for liquefied natural gas supply, especially in winter and summer. Japan, the main importer of liquefied natural gas, will see relief from the extreme heatwave in mid-July. After Hurricane Beryl hit Texas and caused the temporary suspension of the Freeport liquefied natural gas export facility, traders are also evaluating the supply in Europe.