Late winter cold hits Europe

Temperatures in parts of northern Europe are forecast to drop to as much as 10C below seasonal norms over the coming week. (Emanuel Hahn/unsplash.com)

Directional impact on forecast:
Bullish for European hub prices

Large gas markets in Europe are being hit by severe cold weather that is due to continue into early March. The cold spell follows a generally moderate winter across much of the continent, with temperatures around average for most of the season.

Day-ahead prices at Europe’s major hubs have so far been lacklustre during the peak of winter, with temporary supply issues in December providing the only spike in prices until this week. The NBP day-ahead...