European natural gas futures fall towards six-week low

European natural gas futures fell below 33 euros per megawatt-hour and came close to a six-week low.

Wind power generation in northwestern Europe is expected to be above normal until the weekend, and a decrease in gas demand from power plants was a factor in the decline.

Also, since Norway is in the holiday season, the market sees that the risk of unplanned maintenance occurring is small.

However, competition with Asia for LNG cargo poses challenges to Europe's winter stockpiling efforts.