Gas prices are on track for a fifth consecutive week of decline.

Gas prices are poised for a fifth consecutive weekly decrease, influenced by mild weather conditions and substantial reserves in Europe.

The Dutch front-month futures, a key benchmark in Europe, have fallen approximately 1% to around €45 per megawatt hour, indicating a potential weekly drop of 2.7%.

In the UK, the corresponding contract has decreased by 0.8% today, falling below 115p per therm, mirroring a 2.7% reduction over the week.

This trend is occurring as gas storage in Europe remains 99% full, following an unexpectedly mild start to the season typically known for colder weather.

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