I must admit that in 26 years of having a Bloomberg terminal, I’ve never pulled up so many gas price graphs as I have over the last 24 hours. The rise is extraordinary, especially in Europe. Indeed Dutch futures are now up c.+25% this week (including today), c.+80% since the start of August, and a remarkable c.550% over the last year. Today’s CoTD shows this and UK gas futures. {chart} So what’s causing the rise? Well amongst other things we have: Tight supplies, after a cold winter, have not been replenished as much as expected over the summer and ahead of this winter. • Russia has sent less supplies to Europe than ... (full story)