European Gas Extends Drop With LNG Helping to Ease Supply Fears

European natural gas extended declines as ample supplies of LNG and warmer weather eased pressure on inventories after a rocky start to the year.

Benchmark futures fell as much as 2.7%, with monthly imports of liquefied natural gas into northwest Europe set to jump more than 25% from a year earlier. Prices subsequently recouped some of that loss as Russia suggested a cross-border gas point attacked last week would require lengthy repairs.