European Gas Dips as Traders Align Bets Ahead of US-Russia Talks

European natural gas slipped as market participants reconfigured their positions ahead of Friday’s meeting between Russian and US leaders, which could carry consequences for global energy supplies.

Benchmark futures erased Monday’s gains, following oil lower in thin summer trading. While US President Donald Trump downplayed expectations for the summit, traders are contemplating easing risks to Russian energy exports as negotiations continue.

“Markets will have some hopes that this meeting will help bringing the end of the war closer by,” said Hans Van Cleef, head of energy research at EqoLibrium. With investment funds generally bullish on Europe’s gas benchmark, “unwinding some ...