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LONDON (ICIS) — The global gas market continues to focus on the newly-agreed European cap on natural gas prices. The regulatory moves from the European Union fuelled the volatility on the European market, leading the TTF to rise on the news before falling consecutively session after session. The mild temperatures for the time of year in Europe and strong LNG flows also added to the bearish sentiment. 

The decline on the TTF led to a downward correction on Asia’s spot LNG prices despite the market previously holding steady despite muted demand. But requirements for January and February deliveries to Asia paint a cooler winter...