Editor’s Note: This content is provided courtesy of Independent Commodity Intelligence Services (ICIS). Visit natgasintel.com/icis for more information.

LONDON (ICIS) — The long Easter break heightened the market’s volatility, with European gas prices crashing at the close on 14 April, only to firm on the market’s return on 19 April, supported by lower pipeline supply due to outages. 

Warmer temperatures have so far held further rises in check. Asian spot prices followed Europe to some extent, supported by south Asian demand from Pakistan, India and Bangladesh. New Covid-19 lockdowns in Shanghai, coupled with warmer weather, are cutting China’s spot LNG demand.

The Middle East had an active week, with Kuwait issuing a buy tender for four cargoes, and Egypt looking to...