The surprise decision over the weekend by OPEC-plus countries to further cut crude production helped keep a rally in European natural gas prices alive as concerns over fuel supplies again bubbled up as the week got underway.

The slump in natural gas prices amid a mild winter has made the fuel more competitive with oil and coal this year, which have risen in recent sessions and helped support the Title Transfer Facility (TTF).

The decision by OPEC-plus to cut another 1.1 million b/d on top of reduced Russian output and the group’s previously announced cuts pushed Brent prices higher Monday, “feeding inflationary fears,” said Rystad Energy’s Jorge Leon, senior vice president.

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