European gas ended six consecutive days of rising prices. After futures entered the overbought range, traders chose to make a profit. Benchmark futures saw the biggest drop of 2.1% on Wednesday, with a cumulative increase of nearly 20% over the previous six trading days. The Middle East conflict and the resulting disruptions in liquefied natural gas exports indicate that supply will become more tight in winter, and Europe will compete with Asia for spot LNG shipments.

European gas ended six consecutive days of rising prices. After futures entered the overbought range, traders chose to make a profit. Benchmark futures saw the biggest drop of 2.1% on Wednesday, with a cumulative increase of nearly 20% over the previous six trading days. The Middle East conflict and the resulting disruptions in liquefied natural gas exports indicate that supply will become more tight in winter, and Europe will compete with Asia for spot LNG shipments.