Europe Gas Surges More Than 20% as Supply Risks Rattle Market
- Traders on edge about outages and competition for LNG
- Parts of region are set to see temperatures rise this weekend
Petrol nozzles at a gas station in Toulouse, France.
Photographer: Valentine Chapuis/AFP/Getty ImagesThis article is for subscribers only.
European natural gas futures soared as traders reassessed supply risks amid signs of global competition for the fuel and a heat wave bearing down on the region.
The benchmark contract ended the week 35% higher, the most since last August, at the height of Europe’s energy crisis. It’s also the first weekly advance since March.