European gas prices fall with heating season being delayed

Natural gas prices in Europe continue to decline. The reason is the synoptics' statements about warmer weather in the region, having delayed the start of the heating season.

Meteorologists expect average daily temperatures to rise in Scandinavian countries, as reported by Maxar Technologies Inc. In southwest Europe, temperatures are likely to reach above normal as early as next week. 

Market volatility has increased, given the cold snap in the Eurozone. The weather conditions may also lead to a tight market, open to the risk of supply cuts. Gas storage facilities in the region are nearly full. Supplies seem to be sufficient for countries to withstand the winter. However, the market is still exposed to further cuts, as well as changing weather conditions. Bloomberg reports that gas prices appear to be three times the average of the past five years. 

The government is calling on the population to save fuel. 

The situation in the Eurozone has improved, although the future outlook remains unclear. This is reported by Catherine McGregor, Chief Executive Officer of Engie SA, speaking at a Bloomberg event in Singapore. The head of the energy concern believes that gas prices will continue to be volatile in the near future.