Next week, freezing temperatures are forecast in several parts of Western Europe, from Paris to Berlin. The low temperatures are expected to last until at least mid-January, according to forecasts from Maxar Technologies. As a result, many Europeans will turn up their heating in the near future, which will fuel the demand for gas.
Gas prices in Europe fell last month due to mild winter weather. Towards the end of the month there was a sharp price increase due to fears of an escalation of the war in Gaza. However, that fear did not weigh on the market for very long and prices soon fell again. Some countries have also recently replenished their stocks. As a result, there is more than enough gas available everywhere for the time being to meet demand.