European Gas Prices Drop as Storage Helps Offset Russian Curbs
- Russian gas flows via Ukraine about 40% lower than December
- Storage, supplies of LNG help offset lower Russian flows
This article is for subscribers only.
European natural gas prices declined as ample inventories and tanker-borne fuel help offset lower supplies from Russia.
Benchmark futures fell as much 5.6% after gaining as much as 6.3% earlier on Thursday. Russian flows via Ukraine slumped further while cold weather swept across the continent, boosting demand for the fuel used in heating and accelerating withdrawals from storage sites.