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Natural Gas Prices Plunge 18% in Europe
ETF news and views for the week of May 22 to 26, 2023.
By Trackinsight
May 29, 2023
- Natural Gas
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Natural gas prices in Europe experienced a sharp decline, plunging almost 18% for the week amid ample inventories and sluggish demand in both Europe and Asia. The front-month futures at the TTF hub, the benchmark for gas trading in Europe, sank below 25 euros per megawatt-hour (MWh) on Friday. This significant drop represents a halving of prices since the start of the year, largely driven by a milder winter that led to European gas inventories surpassing the five-year average at the end of the 2022/2023 heating season.
In the United States, natural gas futures extended losses toward $2.2/MMBtu, down 15% for the week and down almost 51% for the year, driven by increased output, rising Canadian exports in the wake of easing fire conditions and revised forecasts indicating lower demand in the coming weeks.
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The WisdomTree Natural Gas Fund, which tracks the performance of natural gas prices, lost -9.95% over the week, bringing its year-to-date performance to -54.90%.
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Since our founding in 2016, we have been at the forefront of the industry, delivering accessible, comprehensive, and reliable tools to support the evolving needs of investors.
Over the past decade, Trackinsight has expanded its operations across six countries, serving thousands of professional investors. We’ve consistently innovated to provide cutting-edge solutions that meet the changing demands of the ETF market.
In 2024, Kepler Cheuvreux, a leading independent European financial services firm, acquired a majority stake in Trackinsight, becoming the company's principal shareholder.
This strategic partnership solidifies Trackinsight's position as a premier provider of ETF selection and analysis tools, while strengthening Kepler Cheuvreux’s commitment to becoming a leading player in the ETF sector.
Together, we are committed to offering advanced services that empower professional investors, advisors, institutions, and issuers. This new step enables us to deliver even more comprehensive and innovative technological solutions, driving ETF investing to new heights.
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