European natural gas prices again charged higher on Monday, setting new records amid freezing temperatures forecast this week and the prospect of limited supplies as the winter unfolds. 

The Dutch Title Transfer Facility (TTF), a European gas benchmark, maintained a rare premium to the Japan-Korea Marker (JKM) in Asia. Both the January and February TTF contracts gained over $3 Monday and hit a record high well above $48/MMBtu. Forward gas contracts have surged by double-digits over the last month and gained again Monday as traders anticipate a tight global gas market through next winter. 

Gazprom PJSC booked just a fraction of the capacity available to move additional Russian natural gas to Europe via pipeline at a monthly auction Monday. The company is also not selling spot gas...