Dutch International: European natural gas prices rise in the summer storage replenishment season due to supply concerns.

Sina Finance reported on March 30th that European natural gas prices rose in early trading due to escalating conflicts in the Middle East, intensifying concerns about the supply of liquefied natural gas before the summer gas storage replenishment season. Analysts at the Dutch international group warned that continued supply disruptions could slow down the injection of gas into European storage facilities and increase competition for spot LNG cargoes, especially in a situation where global supply increase or reallocation capacity is limited. These analysts stated that further tightening the market is the failure of Chevron's Wheatstone liquefied natural gas facility in Western Australia, reducing additional supply and increasing Europe's vulnerability in dealing with external shocks. The benchmark Dutch TTF natural gas futures contract for the nearest month rose by 2% to 55.25 euros per megawatt-hour.