Posted on 10/18/2022 10:52:13 AM PDT by Hamiltonian
LONDON, Oct 18 (Reuters) - Dutch and British wholesale gas fell on Tuesday as low demand due to warmer-than-usual weather and ample supply due to the steady arrival of liquefied natural gas (LNG) tankers put pressure on prices.
The benchmark front-month Dutch contract dropped for the fifth consecutive trading day and was down 13.50 euros at 116.50 euros per megawatt hour (MWh) by 0858 GMT, the lowest level since mid-June.
The British day-ahead contract fell by 23.00 pence to 35.00 pence per therm
"Weak demand and comfortable supply continue to exert strong downward pressure. New weather forecasts pointing to warmer temperatures provide additional downward pressure," said analysts at Engie EnergyScan.....
The steady arrival of ships carrying LNG to Europe has also eased concerns about shortage of supply as Russia has progressively cut gas flows.
However, there are more than 35 LNG-laden vessels drifting off Spain and around the Mediterranean, and ports remain busy for unloading.
"The drop (of Russian supplies to Europe) has now nearly been completely absorbed by the market, which is a promising omen for Europe at the start of the winter," analysts at Marex Research said...............
(Excerpt) Read more at finance.yahoo.com ...
Oh, it certainly has been, in the gas business.
I could be making a good bit this year, I can tell you.
But age, and health is far from what it could be.
Good News!!
The price is still far too high for Europe’s economy to survive.
You don’t think it will get colder?
Dozens of LNG-laden ships queue off Europe's coasts unable to unload
Reuters ^ | October 18, 2022 | By Marwa Rashad and Belén Carreño
https://freerepublic.com/focus/f-news/4101426/posts
"Contracted price for long-term Russian supply for Germany used to be about $8 per MMBtu as against the current market price hovering around $56.65 per MMBtu."
There's two local gas stations in my area.
One sells at $3.50 per gallon.
The "Stick-It-To-Putin" gas station sells at $24.00 a gallon.
I always go to the "Stick-It-To-Putin" station, to, well - stick it to Putin.
Or I am rational, and go to the other gas station.
At what price does Europe's economy survive?
Good to see that more gas is available.
Sounds like Europe has solved all of their problems. So happy for them.
Whatever that is.
Ah, obviously it will get colder this winter.
You must not be familiar with the icons of our American culture...
Looks like some kind of British guy. Do you watch too much TV?
Later they might wish they had stored the gas.
“Ah, obviously it will get colder this winter.”
Europe is not out of this yet. An unusual bitter pre-Christmas cold snap was predicted yesterday for all of Europe. And if January and February are just a little below normal they will have problems. They are hanging by a thread and hoping for a more milder winter than normal.
The United is experiencing coldest air so far this fall is invading a widespread area of the Midwest, South and East, placing millions at risk of their first freeze of the season as far south as the Gulf Coast and the western Florida Panhandle.
It is a good thing people are going to see how much heating their homes is going to cost this winter before election.
You took a year and a half off Free Republic directly after the 2020 "election", and then returned in early April 2022 for the FR Ukraine Project.
What's up with that? 
When it reaches near parity with US prices. European industry was powered by heap Russian natural gas, especially german. If the European price of natural gas is a multiplier of US prices then European manufacturers will have to raise prices dramatically and their exports will shrink dramatically. No Mercedes Benzes for Americans if this goes on.
I'm sure they are storing all they can get unloaded right along. They aren't deaf and blind.
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