UK natural gas futures fell to 78.6 pence per therm, remaining relatively close to the lowest level in one year and refraining from rebounding to the extent observed in other European hubs amid a backdrop of ample supply. Imports of liquified natural gas in the European union increased for reception facilities in Germany and Italy, limiting buying pressure from the region as gas storage in the bloc is over 77% full, on track to hit its goal by November. This was magnified by the outlook of ample LNG availability from the US as amid increasing feedstock generation in the country. The developments were enough to offset a reduction in Norwegian flows. In the meantime, stronger power generation from wind also limited demand for natural gas plants.
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