Purchases of natural gas needed to fill European storage are slower than usual this time of year, despite a recent drop in prices, with some buyers betting on further declines.

 Bloomberg writes about it.

 The certainty that prices will continue to fall has many buyers waiting to stock up ahead of next winter.

 Benchmark futures on the continent fell only to record levels seen last summer, but that was not enough to spur buying as consumption slowly recovers from crisis lows.

 The reduction in fuel use means that global supplies are still sufficient to meet European demand, even with reduced Russian flows. But gas producers and traders warn that the crisis is not over, and a delayed and uncertain recovery in consumption could upset the fragile market balance.

 There are expectations that prices could fall to €10 per megawatt hour, more than 70% below current levels, but even if that happens, the low prices are unlikely to last long.

 Experts have no doubt that Europe will restore its gas reserves after all in order to meet the goals of the European Union. Stocks are already above normal and should not be a problem during next winter.