OILPRICE | The next negative prices in energy contracts could soon be seen in European natural gas prices as lockdowns batter demand while storage capacity for the commodity is running out, analysts and traders told Reuters on Friday. “If it will happen today or next week, it’s hard to say. This weekend we have very low demand and strong supply, so weekend prices might go close to negative,” a European gas trader told Reuters.
Prices at the Dutch TTF hub and the prompt UK wholesale gas prices have recently slumped by 20-30 percent to low single-digits, and there is a risk that they may go negative because gas demand in Europe is still very weak while storage is close to capacity.
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