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Gas traders trim risk ahead of Trump-Putin summit - ING
Turning to European natural gas, investment funds reduced their net long in TTF by 17TWh to 105TWh over the last reporting week, ING's commodity experts Ewa Manthey and Warren Patterson note.
Funds slash TTF net longs by 32.8TWh in latest week - ING
Investment funds reduced their net long exposure in TTF natural gas by 32.8TWh to 127.5TWh last week. Still, the recent rally in European gas prices suggests fund positioning may have rebounded since the reporting cut-off, ING's commodity experts Ewa Manthey and Warren Patterson note.
Qatar threatens to stop LNG supplies to the EU - Commerzbank
More leeway for LNG deliveries from the US to the EU could be created not only by turning away from Russian gas, but also from other sides, Commerzbank's commodity analyst Barbara Lambrecht notes.
US drilling activity slows further - ING
Oil prices are trading firmer this morning after the US and EU announced a trade deal, which will see most EU exports to the US facing a 15% tariff. The market worried that if talks had failed, 30% tariffs would come into effect on 1 August. That likely would've prompted retaliation from the EU.
Strong rise in LNG supply provides relief for Gas market - Commerzbank
European Gas prices have fallen significantly following the de-escalation of the situation in the Middle East: at just over EUR 32 per MWh, the TTF reference price is now only slightly above this year's low at the end of April, Commerzbank's commodity analyst Barbara Lambrecht notes.
US natural Gas prices rebound on storage surprise - ING
US natural Gas prices rebounded after three days of losses, supported by a smaller-than-expected storage build. Lower inventory growth may signal tighter supply dynamics in the weeks ahead, ING's commodity experts Ewa Manthey and Warren Patterson note.
EU Gas prices steady - ING
European natural Gas prices steadied after last week's decline, as supply concerns eased with improved Norwegian flows. However, firm price support may still be needed to secure LNG ahead of next winter, Société Générale's FX analysts note.
Nord stream sanctions reinforce Gas market shift - ING
The sanction package includes a transaction ban on Nord Stream 1 & 2, ING's commodity experts Ewa Manthey and Warren Patterson note.
US Gas stable on expected storage build - Societe Generale
US natural Gas prices held steady after EIA data showed a storage build in line with expectations, while European prices slipped as Norwegian supply disruptions eased. Despite earlier support from outages, improving UK grid flows weighed on the TTF.
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