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SINGAPORE (ICIS) –The ICIS TTF April ‘22 contract soared to $36.84/MMBtu on 23 March, up almost 17% day on day, with a further increase on Thursday. The May ’22 contract tracked the April ’22 contract’s gains, and continued to hold a small premium.

Russian President Vladimir Putin made a statement on 23 March that Russia will only accept payment for gas deliveries to a number of countries in Russian rubles. The list would include most European buyers and Japan. The market was concerned this could lead to some supply disruptions.

The ICIS East Asia Index (EAX) moved up on higher demand from Japanese utilities and...