Europe Gas Rises Amid Demand Risks, Concerns Over Russian Supply
- Futures settle 3.9% higher after dropping 6.2% earlier
- Heat wave, Russia-Ukraine escalation add to market nervousness
A gas platform in the North Sea, Norway.
Photographer: Carina Johansen/BloombergThis article is for subscribers only.
European natural gas advanced as traders weighed extreme heat in parts of the continent and concerns about the little fuel Russia is still sending to the region.
Benchmark futures settled 3.9% higher after another session of sharp price moves. Searing temperatures in parts of the region and global competition for liquefied natural gas continue to provide upward pressure — even as flows from Norway, Europe’s top supplier, return to levels last seen in April.