European Natural Gas Prices Rise on Middle East Escalation
- European natural gas prices rose to nearly 90 EUR per MWh on Thursday, exceeding levels unseen since December 2022 as escalating Middle East tensions raised concerns about winter supply security.
- Gas Infrastructure Europe reported that European storage sites were only 74% full as of October 21, well below the five-year average of about 86% at the start of the heating season.
- The Dutch Title Transfer Facility jumped 2.7% on Thursday, tracking a 3% surge in Brent Crude to $112 per barrel as Iran reported striking tankers in the Persian Gulf.
- Consultancy Timera Energy warned last week that Europe and Asia face risks of late-winter price spikes, as limited demand-side flexibility could trigger sharp increases from current levels.
- Ole Hansen, Head of Commodity Strategy at Saxo Bank, noted Thursday that low storage leaves Europe vulnerable to import dependence throughout winter, while analysts assume the Hormuz strait remains closed through Q4 2026.
225 Articles
225 Articles
The price of natural gas in Europe rose to over 100 euros per megawatt-hour; the last time the price of gas was at this level was almost four years ago.
The European gas price has crossed the 100 euro per megawatt hour mark today. That is the highest level since the gas crisis in 2022, when Russia invaded Ukraine. In February, before America and Israel started the war against Iran, the price on the wholesale market was still below 30 euros per megawatt hour. Since then, major refineries and liquefied gas (LNG) pipelines in the Middle East have been affected, reducing exports from there. Dynamic …
The European gas price has risen to over 100 euros per megawatt hour for the first time since 2022. The Iranian war and the filling up of the German gas storage tanks before the winter are regarded as price drivers.
Back to the levels that were not seen since the Russian invasion of Ukraine. The possible escalation in the Middle East, from where the gnl of Qatar and the Emirates comes, the low stocks of Northern Europe and the ban on Russian gas since 2027 make fear of a new methane crisis
Le Figaro
franceinfo.frThe Dutch TTF, a reference of the European market, is returning to levels that had no longer been observed since the energy crisis linked to the war in Ukraine.
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