European Gas Prices Near Two-Week Peak as Asia’s Heat Drives Demand

European natural gas futures have risen close to a two-week high amid growing demand from Asia. The extreme heatwave in several Asian countries is increasing the need for cooling, leading to higher gas consumption. Traders in Europe are closely monitoring the impact of this demand, as Asia attracts more gas cargoes to meet its energy requirements.

The higher demand from Asia is putting pressure on European gas supplies, which contributes to the rise in futures prices. This situation highlights the interconnected nature of global energy markets, where changes in one region can affect prices and supplies elsewhere.

Market analysts suggest that the extreme weather conditions and energy needs in Asia will continue influencing European gas prices in the near term. The demand for natural gas as a cleaner energy source remains strong, especially during peak summer months.

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