NORDIC POWER-Forward prices rise on higher European, global energy rates

March 19 (Reuters) - Nordic forward power prices rose on Thursday, buoyed by rising gas and energy prices in the European and global markets, while forecasts for higher temperatures across the region also lent support.

Nordic front-quarter baseload power contract 0#NSBLQ: rose 3.07 euros to 60 euros per megawatt hour (MWh) at 1028 GMT.

Nordic front-year power contract 0#NSBLY: added 1.04 euros to 46.5 euros per MWh.

Natural gas prices in Europe hit more than three-year highs after Iran's attack on the Ras Laffan complex in Qatar, producer of 20% of the world's liquefied natural gas (LNG). NG/EU

The German year-ahead contract rose in early trading on Thursday, in line with firmer gas and oil prices following airstrikes on Iranian and Qatari gas fields, a significant escalation in the U.S.-Israeli war on Iran. EL/DE

Risk premium, volatility expectations and forward prices in the Nordics often move in sympathy with European gas sentiment.

Benchmark Brent oil prices jumped above $119 a barrel on Thursday after Iran attacked energy facilities across the Middle East following Israel's strike on its South Pars gas field. O/R

On the weather front, Nordic water reserves PCAEC00 rose to 24.86 terawatt hours (TWh) below normal from 26.37 TWh below normal on Wednesday.

"High pressure over the continent will move to the northern North Atlantic and will allow for increasing Atlantic low pressure activity over continental and northern Europe," said LSEG meteorologist Georg Mueller.

"The resulting weather will be more unsettled than recently with near or above normal rain and temperatures across Scandinavia."

The Nordic power price for next-day physical delivery FXSYSAL=NPX, or system price, rose 34.25 euros or 64.4% to 87.43 euros per megawatt hour (MWh).