Europe Gas Declines as Traders Weigh Fallout of Russia Mutiny
- Prolonged outages in Norway are also making markets volatile
- Russia remains a major supplier of liquefied gas to Europe
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European natural gas fell, reversing an earlier gain, as traders assessed whether a short-lived rebellion in Russia would have any impact on supply.
Benchmark futures settled 1.6% lower after advancing as much as 14% earlier. Gas has soared about 20% this month with prolonged production outages in Norway countering sluggish demand. Price fluctuations have surged in June, and the dramatic uprising in Russia over the weekend only roiled the market further.