European Natural Gas Futures Plunge 18% in 4 Days, Citi Sees Further Downside on De-escalation

NG2.87%
Dutch natural gas futures fell 2.5% to €41.415 over the past four trading days, with a cumulative decline of 18.2%, while UK natural gas futures dropped 2% to 99 pence with a four-day cumulative loss of 17.7%. According to Citi, European natural gas prices still trade roughly 30% above pre-crisis levels but have room to fall further as "conflict de-escalation" continues. Bloomberg reported that Qatar, the largest producer in the Persian Gulf, plans to rapidly increase liquefied natural gas output once shipping safety through the Strait of Hormuz, a critical chokepoint for about one-fifth of global seaborne LNG, is restored.
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