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European spot gas prices fell sharply on weak demand and strong LNG supply, while pipeline flows from Norway and Russia stayed stable. The TTF June 2022 contract closed down 4.5% at €101.708/MWh, and NBP fell 17.3%.
Comfortable spot supply pushed prices lower, but Russian supply concerns kept the forward curve from falling further. Gas prices set the cost of nitrogen fertilizer and drying for feed.
energyscan.engie.comMay 9, 2022Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Same-day European gas weakness (TTF -4.5%, NBP -17.3%) on weak demand and strong LNG supply lowered global gas price signals and the pull on US LNG.
