Global natural gas prices continued their spiral Monday as weather patterns across the Northern Hemisphere again shifted warmer, preserving ample stocks and further easing supply concerns. 

In Europe, the prompt Title Transfer Facility (TTF) contract slid 6.4% on Monday to close near $11/MMBtu. The contract dipped 4.3% last week despite an agreement among lawmakers late Friday that would allow European Union (EU) members to ban gas and LNG imports from Russia and Belarus. A provisional deal is expected to be adopted next year. 

European gas prices had jumped over the course of two days last week amid a cold snap, but mild weather is returning, with warmer temperatures expected for France, Germany, Italy and Spain over the next 10 days, according to Maxar’s Weather Desk. 

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