European Gas Futures Swing Wildly as Market Faces War Volatility
- Benchmark contract has traded within 100-euro range this week
- Futures decline after earlier jumping to near 200 euros/MWh
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European natural gas prices roared to a record before slumping just as quickly, as the market faced extreme volatility amid the war in Ukraine.
Benchmark Dutch futures settled 2.9% lower at 160.82 euros a megawatt-hour after earlier surging to almost 200 euros. At one point the contract also dropped as much as 18%. The U.K. equivalent fell 2.5%, also following an earlier climb and subsequent slump.