Skip to content

European Gas Jumps as Lower Temperatures Set to Increase Demand

  • Winter chill could boost energy demand after mild November
  • Seven EU member states push for a more effective cap on prices
Updated on

Natural gas prices slipped after a volatile session, with traders weighing European Union efforts to ease the burden of higher bills for consumers against an outlook for colder weather, which could boost demand. 

Benchmark futures settled 4.9% lower after jumping as much as 13% earlier. Seven EU member states made a renewed push for a more effective cap on gas prices, according to a document seen by Bloomberg News. The decline erased gains spurred by forecasts that temperatures across the region are set to plummet this month after a relatively mild November.