A steady supply of LNG continues to arrive in Europe, keeping the continent on track to have storage inventories filled to 80% of capacity by November. 

Natural gas prices in Europe and the UK declined Monday. European storage inventories are at nearly 72% of capacity, or just above the five-year average. 

Russian gas flows to the continent were stable as the week got underway. A 2% drop in Norwegian flows because of unplanned maintenance at the Sleipner field that isn’t expected to be resolved until Thursday had little impact on prices.

Tudor, Pickering, Holt & Co. said last week it is now modeling European inventories to reach 3.45 Tcf by the end of injection season, just above the five-year average of 3.4 Tcf. 

On Edge

The forecast still hinges on a steady supply...