Prices reversed course mainly because of longer-than-expected maintenance outages at key gas plants in Norway, analysts told CNN. “The recent price rally shows just how sensitive the European market is to disruption,” said Bill Weatherburn, a commodities economist at Capital Economics. European natural gas prices are still far below their levels last summer, when the continent found itself locked in an energy standoff with Russia following Moscow’s invasion of Ukraine. The field is one of the biggest in the world but now accounts for just a fraction of Europe’s gas supply. “The European gas market — and by extension the global gas market — [is] certainly not out of the woods in terms of adequately matching supply with demand,” Tom Marzec-Manser, head of gas analytics at ICIS, told CNN.

---

Persons: ”, Bill Weatherburn, Tom Marzec, ” Massimo Di Odoardo, Wood Mackenzie, ” Henning Gloystein, Di Odoardo Organizations: London CNN, Benchmark, Independent Commodity Intelligence Service, CNN, Capital Economics, European Union, Gas, Gas Infrastructure, Wood, Eurasia Group, Norway “ Locations: Norway, Russia, Ukraine, Moscow, Europe, Netherlands, Groningen, “, Gas Infrastructure Europe, Japan, South Korea, Asia, Russian