European Gas Gains as Approaching Cold Snap Tests Winter Supply
- Benchmark prices rise 4.1% Friday but close lower week-on-week
- Cooler weather is expected in parts of Europe later this month
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European natural gas prices rose as colder weather was forecast for the end of next week, testing the region’s readiness for winter.
Benchmark futures gained 4.1% Friday, rebounding after a dramatic slide a day earlier. Bloomberg reported Thursday that Kyiv was in talks about supplying Azeri gas to Europe as a transit deal with Moscow nears expiry. Still, uncertainty persists over whether an agreement can be reached.