The decline in prices is due to a reduction in the geopolitical risk premium following indications that hostilities in the Middle East have ceased and the prospect of the reopening of key maritime routes, including the Strait of Hormuz. The decline in oil prices on international markets has also helped ease pressure on the natural gas market.
However, the market remains volatile. Prices continue to be influenced by low gas inventories in Europe, which stand at approximately 55.35%, which is below the five-year average, as well as a decline in liquefied natural gas (LNG) supplies to Northwestern Europe, which are approximately 22% below the average for the past 30 days.
At the same time, forecast above-normal temperatures in several regions of Europe (including Moldova—by the end of this week) may support demand for gas for power generation in the coming period.
