Global natural gas demand remained weak as floating inventories built at sea and prices in Europe and Asia continued falling as the week got underway. 

The May Title Transfer Facility (TTF) shed a penny on Monday, while spot LNG prices in Asia dropped below $12/MMBtu to their lowest point in nearly two years. 

In Europe, storage inventories were at 56.3% on Monday, up from 55.4% from a week ago and well above the five-year average of 36% for this time of year. 

[Inside the Political Firestorm: NGI sits down with Neil Chatterjee, a former FERC chairman and commissioner, to discuss the impacts of President Biden’s LNG pause on authorizing new liquefied natural gas export projects in the U.S. Tune into NGI’s Hub & Flow podcast now.]

TTF traded sideways most of last week,...