(Bloomberg) -- European natural gas prices headed for a third straight weekly decline as fears over further disruptions to Russian supplies waned.
Benchmark futures for July delivery fell as much as 4%. Russian shipments are expected to remain stable on Friday, even as flows through one cross-border point in Ukraine remains cut off because of the war. Concerns over a payment dispute -- the biggest headache for the market for months -- have also eased with major European buyers finding way to meet Moscow’s demands for rubles and still not fall afoul of EU sanctions.
Europe has boosted imports of liquefied natural gas to tackle any supply issues. Supplies from import terminals in the continent have surged to the highest levels in five years for this time of year.
Gas for July was 3% lower at 87.71 euros per megawatt hour at 9:12 a.m. in Amsterdam. The June contract, which expires on Monday, shed 3.8% after losing 2.4% on Thursday.
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