Gas Falls to Four-Month Low in Europe Amid Reduced Ukraine Risk
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Natural gas tumbled to a four-month low in Europe as Ukraine paid its debt to Russia, reducing the risk of disruptions to flows from the continent’s biggest supplier and prompting Societe Generale SA to cut price forecasts.
Front-month prices reached the lowest levels since August in the U.K. and the Netherlands, Europe’s largest traded markets, broker and exchange data showed. Societe Generale reduced price forecasts for U.K. gas for a second time in less than six weeks as NAK Naftogaz Ukrainy settled a debt to OAO Gazprom and pre-paid for January supplies. Russia began the New Year by cutting flows to Ukraine twice in the past decade.