The Real Reason Russia Isn’t Pumping More Gas

Natural gas prices have been ceding ground with the selling pressure primarily driven by the delayed onset of winter and weak cash pricing. Natural gas prices were quoted at a seven-week low of $4.77/MMBtu on Monday's intraday session, 23% below the 13-year high they attained a month ago.The gas selloff kicked off about five weeks ago after Russian President Vladimir Putin promised to open the taps in a bid to stabilize soaring global energy prices. Russia, one of Europe's biggest natural gas providers, has been accused of intentionally withholding…