Global natural gas prices continued falling Monday, picking up where they left off last week amid warmer weather, ample supplies and turmoil in the banking sector that has weighed on commodities.
In Europe, the May Title Transfer Facility (TTF) contract fell 13% last week. It gave up another 8% on Monday and closed at its lowest point since July 2021.
Several U.S. banks have failed and fears over the economic impact spread to Europe, where Credit Suisse is being taken over by rival UBS after years of missteps. The headwinds have dragged down oil, natural gas, metals and carbon markets worldwide.
Winter also is coming to an end, and Europe’s scramble for gas over the last year that has driven the market has left the continent’s storage inventories at nearly 56% of...