European Natural Gas Seen Structurally Tighter Than Oil: Commerzbank

Commerzbank analyst Norman Liebke says the European natural gas market remains structurally tighter than oil, leaving the balance vulnerable and putting storage risks in focus.

The tighter picture is attributed to Qatari LNG being cut off and US cargoes being redirected, according to the note. The short update does not provide further details on volumes or timing, but it points to continued supply sensitivity in European gas markets.