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European natural gas and power markets surged Monday on forecasts for a late winter cold snap. April natural gas in the U.K. had its biggest ever jump, as did power contracts for the month in Germany, France and the Nordic region. While it isn’t expected to be nearly as cold as when the “beast from the East” brought polar air to Europe two weeks ago, there is a lot less fuel in storage to help meet the increased demand. COLDER AGAIN. Temperatures seen falling across northwest Europe in latest ECMWF-forecast. Source: ECMWF. “We are facing this cold spell with storage reserves in much worse shape than the previous cold snap of late February,” said John Twomey, an analyst at Bloomberg New E... Full story

13 March