Brussels - Saba:
Natural gas prices in Europe fell for the second day in a row as fears of short-term supply shortages receded.
Bloomberg News reported today, Tuesday, that benchmark futures prices fell yesterday by nearly five percent on the back of the severe cold wave that most of Europe is experiencing.
She pointed out that prices rose to 14-month highs in last week's trading after Russian gas stopped pumping through pipelines passing through Ukraine at the beginning of this year.
The price of benchmark contracts for next month's delivery fell two percent to 46.3 euros per megawatt.
Bank of America expects gas prices in Europe to remain below recent highs until the end of the year, but this outlook is less pessimistic about prices than the market consensus, according to Christopher Coblent, head of European energy market research at the US bank.
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