European natural gas futures fell to €30.6/MWh, nearing the lowest since May 2024, as traders awaited US President Donald Trump’s meeting with Ukraine’s Volodymyr Zelenskiy amid pressure to reach a peace deal with Russia involving territorial concessions. Prices extended last week’s 4.4% drop on hopes a settlement could eventually restore Russian energy flows to global markets. Trump, after talks with Vladimir Putin in Alaska, said he will urge Zelenskiy to strike a quick deal, with the US open to offering security guarantees. He will also meet European leaders including Ursula von der Leyen, Emmanuel Macron, and NATO’s Mark Rutte to discuss terms. While Europe has diversified gas supplies away from Russia, traders bet that a loosening of sanctions could ease global competition for LNG cargoes. Separately, Norway reported an unplanned outage at its Hammerfest LNG plant.
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