Trafigura Chief Executive Officer Jeremy Weir said at Financial Times Commodities Asia Summit in Singapore on Wednesday, the European gas crisis has been “potentially alleviated”.

Key quotes

“The outlook for next year is improving thanks to a warm autumn and robust storage.“

“Concerns about the gas shortage in Europe have abated, and the region should have sufficient gas supplies this winter as long as the pipeline through Ukraine stays open.”

“Should that be the case, we may not have so much of a problem the following winter, which was actually the real concern.”

Market reaction

The above comments fail to have any material impact on the Euro, as EUR/USD clings to the recovery gains above 1.0300, +0.18% on the day.