– EU NatGas Soars Most In Year As Traders On Edge About ‘Possibility Of Tightening Supplies’:
European natural gas prices erupted Friday for the largest daily gain in a year as Bloomberg pointed out, “Traders reassess supply risks amid signs of global competition for the fuel and a heat wave bearing down on the region.”
The price of benchmark TTF jumped above 33 euro a megawatt-hour, up more than 23% on the session, rebounding from lows last seen before Russia squeezed Europe’s pipeline NatGas supplies ahead of the Ukraine war. Contracts have found a 22-euro floor after falling 91% over the last ten months.
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