European Gas, Power Rebound as Tensions Over Ukraine Mount
- Tensions over Ukraine, Nord Stream 2 keep traders on edge
- Benchmark gas, power prices still head for a weekly loss
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European energy prices rebounded as concerns over natural gas supplies reignited, with geopolitical tensions mounting in the region and colder weather in Asia signaling some competition for fuel cargoes.
Benchmark gas futures in the Netherlands jumped as much as 9.7%, tracking a price recovery in Asia. Top U.S. and European officials have renewed warnings to Russia, Europe’s top gas supplier, that aggression against Ukraine would trigger a serious response.