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European gas prices hold steady after Trump's remarks
Natural gas prices in Europe have stabilized following statements by U.S. President Donald Trump, who dismissed the possibility of a prolonged war in the Middle East. This led to a decline in prices that had risen by over 10% during previous sessions. European futures contracts for gas also fell, with Dutch contracts for the first month dropping by 1.1% to reach €72.82 per megawatt-hour, as fears eased temporarily. The European Union is experiencing a drop in its gas inventories to 65% of its capacity by the end of August, which is below the five-year average of 82%. Pressures on energy supplies are mounting as inventories continue to decline due to supply cutoffs in Norway. Meanwhile, the EU is planning to discuss options for securing supplies in an upcoming meeting, aiming to avoid shortages during the high-demand winter season.
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