Investing.com -- European natural gas prices experienced a slight dip in afternoon trading but maintained a higher position on a weekly basis, with the focus of investors being on storage levels and supplies.

The benchmark Dutch TTF contract saw a 1.2% decrease, bringing it to 35.81 euros per megawatt-hour. Despite this drop, the contract has seen an increase of over 2% on a week-to-week basis.

The industry group, Gas Infrastructure Europe, has reported that inventories across the European Union are now over 50% full. Despite this, current levels still trail behind those seen last year and the five-year average.

ING analysts have stated that this leaves the region with a substantial task to reach storage targets.

Additionally, the flow of liquefied natural gas during the summer season will need vigilant monitoring as competition with Asia intensifies.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.