European Gas Slides With Easing Fears Over Russian Supply Cuts
- The Kremlin say flows will continue amid the ruble shift
- Gazprom has started notifying clients about the new rules
Russia said gas flows will continue to Europe.
Source: Bloomberg
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Natural gas prices in Europe declined as fears eased about supply disruptions resulting from Russia’s decision to shift payments to rubles.
Benchmark gas futures settled 11% lower, trimming this week’s gains. The Kremlin said gas will continue to flow with payments for fuel supplied from April 1 only due by the end of the month. President Vladimir Putin’s demand to be paid in the Russian currency has been affecting the market for days, with traders on edge about how that may affect supplies.