Traders Delight as U.K. Gas Goes Wild on Centrica Rough Halt
- Volatility gauge for spot gas reaches three-year high
- Rough gas storage facility injections closed until 2017
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This summer’s halt of the U.K.’s largest natural gas storage facility is roiling Europe’s natural gas markets -- and traders couldn’t be happier.
Prices for same-day contracts in the region’s biggest market have swung nearly 20 percent up and down in the past week, sending 30-day volatility to its highest since 2013. That’s delighted traders stuck trying to make money in a market plagued by a supply glut that dragged prices lower for the past three years.