U.K. Gas Futures Surge on Baumgarten Explosion, Norway Outage

(Bloomberg) -- U.K. natural gas prices surged after a pipeline explosion in Austria threatened to tighten flows in a market already coping with a cold snap and a fractured supply line in Britain.

Front-month gas jumped as much as 20 percent to 72 pence a therm ($9.63 per million British thermal units) at 9:37 a.m. in London on ICE Futures Europe, the highest since December 2013.

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