– EU NatGas Spikes Again, This Time On Report Europe’s Largest Gas Field Set To Close:
After finding a floor of around 22 euros a megawatt-hour at the start of June, European natural gas prices have jumped more than 100%. We have detailed the latest price surge in two pieces, titled “EU NatGas Soars Most In Year As Traders On Edge About ‘Possibility Of Tightening Supplies'” and “EU NatGas Jumps Again, Up 15% As Supply Fears Driven By Extended Outages In Norway.”
On Thursday morning, the month-ahead benchmark contracts skyrocketed as much as 30% to 49 euros. The multi-week rip-your-face-off rally has led to 112% gains.
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