European Gas Tops 101 Euros for First Time Since 2022
Europe’s benchmark natural gas prices have topped 101 euros per megawatt-hour (MWh) for the first time since the 2022 crisis as winter looms amid historically low European gas storage levels. The front-month price at the Dutch Title Transfer Facility (TTF), the benchmark for Europe’s gas trading, surged by 4% as of 9 a.m. in Amsterdam on Friday. The TTF price was on track for an 8% weekly gain…
Europe's benchmark natural gas prices have reached a new high of 101 euros per megawatt-hour MWh for the first time since 2022, as winter approaches and storage levels remain historically low. The Dutch Title Transfer Facility TTF price surged by 4% on Friday, with the front-month price on track for an 8% weekly gain. Concerns over the Middle East situation and the potential for continued LNG flow disruptions have contributed to the price increase.
EU gas storage levels are currently at 74.89%, well below the five-year average of 86%, indicating a significant deficit heading into the heating season.
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