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Cold weather from the 'Beast from the East' coincided with outages at Norway's Kollsnes plant, the BBL interconnector, the Segal pipeline and UK Rough storage. This pushed NBP spot gas to record levels above 200 pence/therm, with intraday peaks near 350, and prompted a National Grid gas deficit warning.
Europe's supply squeeze drove sharp spikes in gas and LNG prices and pulled in extra cargoes from competing markets. Tight European gas supply can also lift prices for energy-intensive fertilizer and feed production.
europeangashub.comDavid CallananMar 13, 2018After 221 past bullish weather events, Natural Gas moved a median +3.3% over 5 sessions (61% higher; middle half -5.2% to +14.0%), and -0.3% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
