Skip to content

European Gas Extends Scorching Rally With Supply Fears Mounting

  • Germany urges Canada to release Nord Stream gas turbine
  • Putin to discuss energy with government officials on Friday
Updated on

Natural gas in Europe notched its longest stretch of daily gains in more than nine months as persistent fears of deeper supply cuts by Russia spread through the market.

Benchmark futures, which have more than doubled their value over the past month, jumped 7.1% in a seventh day of increases. The crisis also sent power prices to record highs as Moscow’s tightening hold on energy supplies brings the risk that Europe may struggle to keep the heat and lights on this winter.