European gas futures drop 13% as supply outlook improves
Prices of the European gas futures dropped on Monday as the supply perspective improved over the last hours amid fresh reports on the increase of the flow from different countries in the area.
In that line, earlier, pipeline owner Gazprom PJSC revealed pressure in the Nord Stream transit system has stabilized, presumably boosting the sentiment in a positive direction. On the other side, Ukraine's Naftogaz added that gas production in western Ukraine raised. The energy giant's CEO revealed that the country's current gas storage facilities are complete in the face of the heating season.
Despite some negative reports, UK natural gas futures for delivery in November went down by 13.57% to 305 pence per therm at 4:36 pm CET.