Natural gas prices in Asia and Europe moved higher Monday despite growing concerns over a new variant of Covid-19 that weighed on commodities late last week.

A colder shift in the forecast and a reduction in pipeline imports in Europe were supporting prices as traders continue to monitor the potential impacts of the Omicron variant on demand. Both British and Dutch futures closed higher Monday.

“The market will continue to follow the situation this week, while keeping an eye on potential lockdown measures,” trader Energi Danmark said in a note Monday of the variant’s spread. 

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