Gas traders rush for cover as Ukraine attack sparks supply fears

Traders rushed to snap up protection against surging European gas prices, signalling they expect more disruption to supplies with the heating season less than two months away.

Implied volatility linked to Dutch gas options – a measure of how expensive the underlying derivative contracts are – has jumped in August, indicating fears of supply shortages. Options volume was up 71 per cent last week compared with a year earlier, according to data from Intercontinental Exchange.

Bloomberg