European natural gas prices have surpassed 40 euros per megawatt-hour for the first time since June.

European natural gas prices have hit 40 euros per megawatt-hour for the first time since June, as traders grapple with concerns stemming from unusually cold weather worldwide. Benchmark futures soared 11.5% on Wednesday, pushing this year's strong rally to over 40%. This robust increase is fueled by two main factors: a major winter storm posing a potential threat to US natural gas exports, and persistently low temperatures in Europe and Asia.