European and Asian natural gas prices are recovering from last week’s losses as supply concerns and strong buying have spurred gains so far this week. 

In Europe on Tuesday near-curve prices closed higher for both the Title Transfer Facility and National Balancing Point contracts through August.  

Russian gas giant Gazprom PJSC reportedly did not take part in an auction to book additional capacity for moving natural gas through the Ukranian transmission system to Europe, which would have added supplies to the market and sped up restocking efforts on the continent. While the company has booked additional capacity this year, it was the second month in a row that it did not participate. Gazprom has a deal with Ukraine that currently requires it to move 40 billion cubic meters of...