Negative Pricing Seen Spreading from Oil to Gas

Almost a month after US crude oil prices collapsed into negative territory for the first time, European gas markets are facing the prospect of also slipping into the red zone themselves, after a slump in overall demand and surging inventories pushed the continent’s gas prices into low single digits. Dutch ,British gas prices have plunged due to weak demand amid coron avirus lockdowns and strong renewables output, compounding an already oversupplied market with little available storage space left.