Europe’s Natural Gas Prices Jump to 2024 High

Europe’s benchmark natural gas prices surged on Thursday to the highest since November 2023 as Austria’s OMV warned of a potential halt to Russian pipeline gas supply and as colder weather drives stronger demand for heating and electricity. Dutch TTF Natural Gas Futures, the benchmark for Europe’s gas trading, jumped early on Thursday in Amsterdam by 5%. As of 1:50 p.m. Amsterdam time, prices had given up some of the gain, but they were still up by 4% on the day, at $47.83 (45.40 euros) per megawatt-hour (MWh). Late on Wednesday,...