'Violent' Price Spike Rocks Gas Traders Who Made Bad Winter Bets
Prices jump in the US and Europe, as cold weather drives up demand and threatens supplies.
An LNG powered ship at the Bayport Container Terminal at the port of Houston in Seabrook, Texas.
Photographer: Callaghan O'Hare/BloombergMonths of mild weather lulled US and European gas traders into believing winter would bring more of the same — not the brutal freeze gripping much of America.
Their bad bet is now reverberating around the world.