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European Gas Drops on Russia’s Bookings, Higher LNG Flow

  • Uncertainty over Russia’s Yamal-Europe pipeline bookings
  • Milder weather forecast, higher LNG flow also push prices down
Updated on

European natural gas prices retreated from a record close after Russia topped up fuel to the region for Friday at the last minute and as cargoes started diverting away from Asia.

Dutch next-month futures pared some of the losses after slumping as much as 16% earlier Friday, with the move from Russia easing supply fears already alleviated by expectations of more LNG reaching the continent. Russia’s intentions for volumes on Saturday however remain uncertain.