Investing.com -- European natural gas prices saw a rise in early trading, driven by expectations of increased demand due to colder weather forecasts.
The predictions of a cold snap have sparked worries about a more rapid reduction in gas storage in the coming days.
European Union gas storage inventories have been dwindling faster than usual, with levels reported at 51.3% and daily net withdrawals around 7.9 terawatt-hours as of Tuesday.
The benchmark front-month contract at the Dutch TTF hub experienced a 1.3% increase, trading at 54.13 euros per megawatt-hour, marking a near 15% rise on the month.
In the previous trading session, prices bounced back after China announced its plan to impose tariffs on U.S. liquefied natural gas (LNG) starting on February 10. This move is anticipated to free up larger volumes for other buyers, including Europe.
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