European Gas Rises as Cold Weather Forecast Adds to War Risks
- Temperatures in northwest set to drop toward end of the month
- Vessel seizure highlights threat to shipping in Middle East
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European natural gas prices rose as forecasts for colder weather added to rising tensions in the Middle East, following the seizure of a ship over the weekend.
Benchmark futures halted four-sessions of declines, increasing as much as 6.9% before paring some of the gains. The contract is still trading in a narrow range near €50 a megawatt-hour, its level for much of the last few weeks.