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Investing.com – European prices were mostly volatile as US President Donald Trump lifted a new export license ban, reducing uncertainty about global supply for a long time.
Dutch first-month futures, which serve as Europe’s gas benchmark, saw a slight rise of 0.3% to €48.00 per megawatt hour at 8:32 am in Amsterdam. This followed a gain of more than 2% in the previous session, indicating a future shift in the benchmark.
The US president has lifted the ban imposed by his predecessor, clearing the way for new applications for permits to export natural gas from the US. Trump also repeated his call for the European Union to buy more US oil and gas to avoid tariffs. The US is already the largest supplier of LNG in Europe.
According to a report published by the International Energy Agency on Tuesday, Europe’s LNG exports could see an increase of more than 15% in 2025, after a decrease last year. However, the balance of the global gas market continues to be weak.
Since the energy crisis three years ago, Europe has managed to diversify its supply sources. However, the current warming has highlighted its vulnerability.
Cold weather, after two relatively mild winters, has caused gas supplies to dwindle faster than normal. As a result, gas prices in Europe remain high, adding to the inconvenience for consumers.
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