EU Natural Gas Prices Tumble For Fifth Straight Day

A flotilla of U.S. liquefied natural gas carriers heading for Europe has brought relief to European gas buyers, pushing gas prices considerably lower. According to Bloomberg data, cited by Russia’s Sputnik, LNG cargos traveling from the U.S. to Europe rose by a third over the Christmas weekend. 20 tankers with U.S. LNG are traveling to Europe, and another 14 are headed in the same general direction awaiting further orders as desperate Europe became willing to pay a higher premium than buyers in Asia amid a persistent gas crunch that has seen…