Gas prizes are rising in Europe amid Asia's competition for shipping

European natural gas prices have expanded its profits, in light of the monitoring of customers to claim the main buyers in Asia, as the intense heat there increases the cooling needs. Standard of natural gas futures moves to earnings for the sixth consecutive day, in the longest range in more than a year. This height is powered by an increase in liquid natural gas purchases in areas of North Asia due to the heat waves, with a fuel shipping from its path from Europe to Asia recently. This means that the continent has to pay higher prices to hold supplies and complete enough shares before the winter. Gas supplies in Europe in light of the full storage sites with a rate of about 63%, the shares of Europe are still within the usual minimum limits for this time of year, while the hot weather increases the needs of air conditioning in many parts of the region. At the same time, some climate models have changed their expectations to show the convergence of European temperatures with the usual historical levels later this month, which can limit demand. European buyers are competing with other countries around the global liquid natural gas shoves. However, the profit of gas prices remains limited due to the risks that threaten global growth due to customs duties policy, followed by Donald Trump. Last week, the US president announced the imposition of customs duties by 30% on the goods coming from the European Union and Mexico. Traders are also awaiting the release of a statement on Russia, the most important European supplement for gas, as Trump said it will be issued on Monday. The Asian competition for gas said the two analysts at Goldman Sachs, Samantha Dartre and Frederick Vitman, in a remark that it is still expected that Europe will be able to accumulate adequate gas supplies by the end of the summer and reach the levels of about 80%. “We expect the area to be able to secure adequate amounts of liquid natural gas,” they wrote. “However, the intensification of the Asian competition for LNG can reduce the flow to Europe in the coming period.” The Dutch future contracts for the nearest month, which is the standard gas price index, are in Europe, which was increased by 1.2% to 35.98 euros per megawatt, at 10:44 p.m., Amsterdam time, has been circulated.