Oil and natural gas prices fell across the globe Tuesday, pushed lower by a variety of factors including demand destruction in Asia, bearish sentiment in Europe and a cooling rally in the United States. 

European natural gas prices hit their lowest level since Russia invaded Ukraine in February. The May Title Transfer Facility contract hit 84 euros, or $26.56/MMBtu, in intraday trading, the lowest point since February 23. TTF finished Tuesday below $30. 

Warmer weather dragged down prices, along with an influx of liquefied natural gas (LNG) cargoes. The market again shrugged off Russia’s demand that European buyers pay for gas deliveries in rubles.

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