Commodities
European Gas Prices Pare Losses as Norwegian Flows Decline
- Annual works are reducing flows from Europe’s top supplier
- Resumption of key US facility has eased come concerns
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European natural gas prices pared earlier declines after lower flows from Norway offset optimism over the gradual restart of a key US facility.
Benchmark futures fell as much as 3.3% on Monday before erasing most of those losses. While the Freeport LNG plant in Texas has resumed some activities after being shut down in light of Hurricane Beryl, extended maintenance works and an unplanned outage in Norway are weighing on supplies to the region.