European natural gas prices hit a two-year peak of 95.73 euros per MWh as supply fears intensify amid the onset of the withdrawal season and stalled Qatari LNG flows.
European natural gas prices have reached their highest levels since 2022, driven by the early onset of the withdrawal season and persistent supply constraints. The Dutch Title Transfer Facility (TTF) benchmark rose 2.1% to $107.40 per MWh, reflecting market anxiety over the lack of clarity regarding the resumption of Qatari LNG flows.
The Dutch Title Transfer Facility (TTF) serves as the benchmark, with front-month prices recently hitting $107.40 per MWh.
Prices are rising due to the start of the withdrawal season and concerns over the continued absence of Qatari LNG supplies.
European natural gas prices at the Dutch TTF hub climbed 2.1% to 95.73 euros per megawatt-hour, marking the highest level since 2022. The rally follows a 7% weekly gain as traders react to the early start of the withdrawal season and persistent uncertainty regarding the resumption of Qatari LNG shipments.
Prices are climbing due to the early start of the seasonal gas withdrawal period and ongoing concerns over the reliability of Qatari LNG supply flows.