European natural gas prices extended gains to the highest level in almost four months on persistent supply concerns amid the worst energy crunch in decades. Benchmark futures jumped as much as 3.7% for a fifth consecutive advance. European energy markets are in turmoil with Russia’s supplies at multiyear lows, coupled with intense competition for liquefied natural gas with Asia, where prices soared to the highest ever seen during the summer. Traders are also closely watching exports from Norway, where strikes planned for this week threaten to cut gas and oil production. Output at three fields began shutting on Tuesday as the strike started, with two more walkouts planned in the coming days. For now, shipment orders published by Norway’s grid operator show stable flows for Tuesday. But the strike could escalate on Wednesday and into the weekend if no solution to an ongoing wage dispute is found, according to […]