Natural Gas Soars in Europe, Asia as Crisis Heats Up Competition
- Norwegian maintenance is set to continue into September
- Nord Stream flows will stop for three days of work Aug. 31
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European and Asian natural gas prices surged to near record highs as the worst energy crisis in decades intensified competition to secure supplies.
The Dutch front-month contract, the European benchmark, jumped as much as 13% on Wednesday to levels last seen in the weeks following Russia’s invasion of Ukraine. Asian liquefied natural gas futures rallied 18% to an all-time high.