Europe Gas Rebounds as Supply Risks Mount on Ukraine, Hurricane
- Francine is expected to make landfall in Louisiana Wednesday
- Ukraine gas transit nominations signal lower flows on Thursday
Hurricane Francine.
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European natural gas prices advanced as traders digested new risks to fuel supply, with Hurricane Francine approaching the US Gulf Coast and Russian flows across Ukraine set for a possible reduction on Thursday.
Benchmark futures closed 2.4% higher after plunging more than 5% to a six-week low a day before. The market is bracing for impact from Hurricane Francine, which is expected to make landfall in Louisiana on Wednesday afternoon or evening and potentially affect some gas liquefaction plants.