Fresh EU Sanctions on Russian Gas Could Trigger a Price Rally

Natural gas markets have kicked off the new week on a bullish note, with Henry Hub gas prices jumping 26.4% to $2.03/MMBtu while natural gas futures are up 5.5% at 1330 hrs ET in Monday’s session. The rally appears to have been triggered by concerns regarding the termination of Russian gas flows.  Back in 2019, Russia and Ukraine signed a five-year pipeline transit agreement to supply natural gas to Europe. Both countries have continued to honor the contract despite Russia waging war on Ukraine for two years now. But that arrangement…