European natural gas prices tend to rise and fall with the price of crude because about half of the region’s long-term gas contracts are linked to oil. This year an expanding oversupply paired with weak demand from mild winter have weighed on gas prices, even as oil almost doubled from a 12-year low in January. Brent crude prices have jumped 32 percent this year while front-month U.K. gas has slumped 12 percent.

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