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Investing.com -- European natural-gas prices increased on Wednesday after President Trump issued a new 10-day deadline to Russia, escalating pressure on Moscow.
The benchmark TTF contract gained 0.7% to €34.97 per megawatt hour in early trading. Prices have climbed more than 5% this week.
Trump warned that failure to reach a truce with Ukraine could trigger severe sanctions on Russian oil exports. Such measures would impact major buyers of Russian crude, including India.
"Tighter global supply would risk ramping up competition for LNG cargoes on the international market," analysts at ANZ said.
Market tension is further increasing as Asian demand for liquefied natural gas strengthens. This growing competition raises the risk of supply shortfalls at a time when Europe is accelerating its gas stockpiling efforts ahead of winter.
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