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European Natural Gas Futures and U.S. Crude Output Surge
February 13, 2025
European natural gas futures have pulled back slightly below €56 per megawatt-hour (MWh), though still hovering near a two-year high of €58.039 per MWh reached on February 10. This price surge was largely driven by a tightening in inventories due to colder weather, a decrease in wind power generation, and the termination of Russian gas imports via Ukraine.