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Asian LNG market continues to discount over Europe

Close price: Prices closed settled day to day, with a muted day of price movements. Power down around 1%, while gas was flat. Exports from the UK into continental Europe through BBL and IUK remain at maximum levels.

Opening price: Prices are trading down so far this morning. This morning Russia has stated that half of Gazprom’s clients have opened bank accounts with Gazprombank to facilitate payments for gas in Roubles, easing some concerns. On the continent storage injections continue to occur at pace with 151 TWh having been injected since the beginning of April as European buyers continue to outbid Asia for supply, helped by a softening Asian LNG market.