European Natural Gas Prices Plunge by 5% Amid Commodity Rout

European benchmark natural gas prices plunged by 5% on Monday amid strong pipeline supply from Norway a broad sell-off in all markets amid fears of a worsening U.S. economy. The Dutch TTF Natural Gas Futures, the benchmark for Europe’s gas trading, was down by 5% to $38.16 (34.80 euros) per megawatt-hour (MWh) at 11:57 a.m. in Amsterdam. Gas prices in Europe had surged by 13% last week amid concerns about supply from the Mediterranean with the escalating tension between Israel and Iran. Stronger demand for liquefied natural gas (LNG) in Asia…