Dutch Outbid British for Gas as Freeze Exposes Supply Limits
- Production is falling in Netherlands, U.K. storage is closing
- Energy trading is political flashpoint in Brexit negotiations
Storm Emma Dumps Snow On U.K.
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Traders in Europe’s two biggest natural gas markets were scrambling for fuel on Wednesday, sending prices soaring as freezing weather exposed supply issues.
U.K. and Dutch gas for same-day delivery more than doubled to attract extra supply needed for heating. With Britain increasingly reliant on the rest of Europe for its fuel as it closes its biggest storage facility and the Dutch curbing production from the region’s biggest field to prevent earthquakes, unplanned outages added to the woes.