European natural gas prices extended gains as a slump in Norwegian exports added to lingering concerns about possible disruptions at key Australian export facilities.
Benchmark futures rose as much as 4.1% on Monday after jumping nearly 9% at the end of last week. The market has been on edge this month amid labor disputes in Australia — one of the world’s top producers of liquefied natural gas — which risk culminating in strikes and limiting global supplies during a crucial period as Europe prepares for winter.
Norway’s grid operator Gassco also said that additional works were carried out at fields delivering into the Segal network, which is connected to the UK. The duration of those capacity reductions, following planned works earlier, remains unclear.
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