European Gas Drops on Skepticism Trump’s Moves Will Dent Flows

European natural gas dipped further after US President Donald Trump’s move to punish India for buying Russian crude showed no signs of threatening flows of the heating and power generation fuel.

Benchmark futures fell as much as 3.8% toward €33 a megawatt-hour, still within a narrow range that’s persisted for more than a month. A steady build-up of the region’s fuel reserves has helped keep concerns over supply risks at bay in recent weeks, even as the deadline Trump imposed on Russia to reach a truce with Ukraine nears.