European natural gas prices plunged the most since March after Germany said its gas stores are filling up faster than planned and some traders took profits after the rally of recent weeks. Benchmark Dutch front-month futures fell as much as 19%, partly reversing last week’s jump of almost 40%. German power prices also dropped, after earlier climbing to a record. In Germany, gas stores are filling up fast and are expected to meet an October target of 85% full already next month, Economy Minister Robert Habeck said in a statement on Sunday. Monday’s plunge in prices is some relief after a furious rally with futures still trading almost six times higher than a year ago. The region is on the brink of a recession, with inflation at the highest in decades in some countries. Governments are also putting in place measures to ease the burden, setting aside some 280 […]

Posted in: EU