Oil Has Stopped Dictating Which Direction European Gas Will Go

This summer shows different forces driving oil, gas prices
Gas market evolving as more pipelines, LNG boost trading

A picture taken on December 10, 2012 in Rennes, western France shows the flame of a gas stove. The price of gas in France will increase of 2.4% on January 1, 2013, French Ecology minister announced on December 10, 2012. AFP PHOTO DAMIEN MEYER / AFP PHOTO / DAMIEN MEYER (Photo credit should read DAMIEN MEYER/AFP/Getty Images)Photographer: Damien Meyer/AFP via Getty Images

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By Anna Shiryaevskaya

August 28, 2018 at 5:00 AM UTC

This article is for subscribers only.

Global oil markets have stopped being the puppet masters driving European natural gas prices.

Gas is no longer as localized a commodity, only moved relatively short distances through pipelines, and tied to oil in European supply contracts because the fuels competed in power generation.