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European Gas Extends Rally With Focus on Global Energy Supply
European natural gas prices extended gains for a fourth day, the longest streak since the end of January, as traders focus on the fragility of global energy supplies. Benchmark futures jumped as much as 7.7% on Monday, the biggest intraday jump since Jan. 3. Prices have rallied recently after plunging as much as 30% since the start of the year, indicating that traders are paying more attention to factors that will affect fuel purchases ahead of next winter. Outages at global gas liquefaction facilities — from Malaysia to the US — are sending jitters through the market as Europe approaches the last weeks of its ... (full story)