European Storage

Record-setting heat across Texas is keeping natural gas demand elevated, with traders watching whether ERCOT consumption can remain near peak levels. Supply remains the counterweight as active rigs stay near recent highs, storage remains ample, and new Permian pipeline capacity is set to reach Henry Hub.

Natural gas remains under pressure even as hot US weather supports cooling demand and gas fired power burn. A 33 Bcf storage injection, elevated production and incoming Permian supply are keeping buyers cautious.