U.K. Gas Erases Gain From Ukraine Cutoff on Swollen Inventories

June 17, 2014 11:25 AM

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U.K. natural gas fell the most in more than three months, erasing gains triggered yesterday when Russia cut supplies to Ukraine, as the biggest European Union inventories in three years shield the bloc from disruptions.

Front-month gas in the U.K., Europe’s biggest market, slid as much as 5.8 percent on ICE Futures Europe in London, the biggest decline since March 4. Prices jumped as much as 8.8 percent yesterday, the deadline for Ukraine to pay Russian pipeline-gas export monopoly OAO Gazprom for past supplies.

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