# EU storage progress, warm weather deal blows to US, EU prices | IG SG

> US and European natural gas prices plummeted on Monday as warm temperatures and ahead-of-schedule storage levels eased winter concerns. The EU was reported ready to advance a dynamic price cap on LNG targeting the Dutch TTF hub, though member states still need to agree.

- Date: 2022-10-18 · published 2022-10-18T12:00:00.000Z
- Category: policy · region Europe · magnitude medium
- Page: https://feedsoft.ai/events/12794-eu-storage-progress-warm-weather-deal-blows-to-us-eu-prices-ig-sg
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Warm weather and storage progress reduce demand for gas, and a possible EU price cap is seen as bearish for European prices. Lower gas costs ease energy and fertilizer pressure on feed production.

## Read by commodity

- NATGAS: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| NATGAS | 2022-10-21 | 5 | -25.1% | -2.8 | Warm weather, ahead-of-schedule EU storage and a possible LNG price cap lowered US and European gas prices together, adding sentiment pressure. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2022-08-30 | [Wholesale gas prices tumble as Europe prepares to intervene in energy markets](https://feedsoft.ai/events/40212-wholesale-gas-prices-tumble-as-europe-prepares-to-intervene-in-energy-markets.md) | -10.4% | -27.5% |
| NATGAS | 2017-02-06 | [U.S. Oil and Gas Prices May Tumble On Trump's ‘Energy Revolution’ - Bloomberg](https://feedsoft.ai/events/72693-u-s-oil-and-gas-prices-may-tumble-on-trump-s-energy-revolution-bloomberg.md) | -0.8% | -14.1% |
| NATGAS | 2017-06-30 | [Japan ruling shifts LNG balance of power to buyer \| The National](https://feedsoft.ai/events/70693-japan-ruling-shifts-lng-balance-of-power-to-buyer-the-national.md) | -5.5% | -3.2% |
| NATGAS | 2017-04-04 | [Qatar restarts development of world's biggest gas field after 12-year freeze
\| Reuters](https://feedsoft.ai/events/71667-qatar-restarts-development-of-world-s-biggest-gas-field-after-12-year-freeze.md) | +2.1% | +2.5% |

## Sources

- ig.com: https://www.ig.com/sg/news-and-trade-ideas/natural-gas-forecast--eu-storage-progress--warm-weather-deal-blo-221018

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.