# European Gas Climbs Amid Fresh Supply Risks and Cold Snap - Bloomberg

> European natural gas benchmark futures rose as much as 3.1% after Houthi rebels launched their largest missile and drone attack yet on ships in the Red Sea, prompting US and UK responses. A cold snap across the continent also supported prices.

- Date: 2024-01-10 · published 2024-01-10T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/5289-european-gas-climbs-amid-fresh-supply-risks-and-cold-snap-bloomberg
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md), [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Red Sea attacks disrupt shipping routes and raise freight and insurance costs for grain and oilseed cargoes moving via Suez. Higher European gas prices also lift nitrogen fertilizer costs.

## Read by commodity

- NATGAS: bullish ▲
- OCEANFRT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2024-06-03 | [European Gas Surges as Norway Fault Exposes Supply Fragility - Bloomberg](https://feedsoft.ai/events/7810-european-gas-surges-as-norway-fault-exposes-supply-fragility-bloomberg.md) | +24.9% | +9.1% |
| NATGAS | 2026-03-03 | [European Gas Hits Three-Year High as Qatar LNG Halt Rocks Market - Bloomberg](https://feedsoft.ai/events/20368-european-gas-hits-three-year-high-as-qatar-lng-halt-rocks-market-bloomberg.md) | +7.0% | -3.1% |
| NATGAS | 2026-10-29 | [The Commodities Feed: European gas tops EUR100 as supply fears grow \| ING THINK](https://feedsoft.ai/events/261-the-commodities-feed-european-gas-tops-eur100-as-supply-fears-grow-ing-think.md) | -1.8% | — |
| NATGAS | 2022-03-01 | [Europe's gas supply concerns, high prices put New England forward market at risk \| S&P Global](https://feedsoft.ai/events/42450-europe-s-gas-supply-concerns-high-prices-put-new-england-forward-market-at-risk.md) | +10.2% | +24.4% |
| NATGAS | 2022-07-29 | [European Natural Gas, Asian LNG Prices Soar on NS1 Supply Cuts](https://feedsoft.ai/events/40665-european-natural-gas-asian-lng-prices-soar-on-ns1-supply-cuts.md) | -2.1% | +11.7% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2024-01-10/european-gas-rises-as-red-sea-attack-highlights-shipping-risk

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.