Fears of a natural gas crisis are rapidly easing as unexpectedly warm winters continue across much of the world. Gas shortages were expected to force power outages before winter, putting upward pressure on electricity prices.
Future forecasts predict warmer-than-normal temperatures for most of Europe over the next couple of weeks. Even in the United States there should be good weather until mid-January. Most of China, the world’s largest gas importer, will also see pleasant weather for the next 10 days, with temperatures in Tokyo likely to warm up around mid-January.
Gas futures fell on lower fuel consumption and a weakening outlook. On the first trading day of the new year, US gas futures sold off and European gas futures hit their lowest since Russia began invading Ukraine.
news-rsf-original-reference paywall">Original title:Fears of global gas crisis eased by warm start to winter (1)(extract)
