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European natural gas prices fell to about €82/MWh, their lowest level since October 9, extending losses as hopes grew for a diplomatic resolution to the Middle East conflict. The market remains tight ahead of winter: EU storage is below 73%, German inventories are below 60%, Norwegian supplies are constrained by outages, and Asian buyers are expected to increase spot LNG purchases.
Peace hopes are reducing the risk premium and pressuring gas prices, but low inventories, constrained pipeline supply and stronger Asian buying could sustain competition for LNG and support prices.
tradingeconomics.comNov 9, 2026After 15 past bearish geopolitics events, Natural Gas moved a median -1.1% over 5 sessions (40% higher; middle half -9.2% to +2.4%), and +4.7% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
