European natural gas prices fell for a seventh consecutive day on Monday as an armada of liquefied natural gas (LNG) vessels makes its way toward the continent and pipeline imports remain stable despite fighting in Ukraine. 

The May Title Transfer Facility (TTF) contract slipped by more than $1 to finish near $32/MMBtu Monday. The market has shrugged off Russia’s demand that European natural gas deliveries be paid for in rubles when bills come due later in the month. Natural gas also continues to dodge Western sanctions after it was excluded from a fifth round of punitive measures last week, when Europe banned Russian coal imports. 

Russian gas shipments to Europe dipped over the weekend, but had bounced back Monday. Warmer weather is also forecast for northern Spain, France,...