TTF Prices Bounce Back Toward to 7-Month High

2026-01-29 10:09 By Agna Gabriel 1 min. read

European natural gas futures rose by around 4% to near €40/MWh, moving back toward the highest level since June 2025, as low storage levels and cold weather expectations heightened supply concerns.

Europe’s gas inventories are about 44% full, close to the lowest for this time of year since 2022, following strong heating demand.

Also, recent disruptions to US LNG supply after freezing weather curtailed production, tightening availability for Europe, which sourced more than half of its LNG from the US last year.

Freeport LNG in Texas reduced feedgas over the weekend and is discussing possible cargo rescheduling with buyers despite a gradual recovery in flows.

EU officials have warned about growing dependence on US LNG and are seeking alternative suppliers.

Geopolitical risks added to the bullish tone after President Donald Trump warned Iran to reach a nuclear deal or face military strikes, raising fears of potential disruptions to LNG and oil shipments through the Strait of Hormuz.



News Stream
European Gas Prices Near 6-Week High
European natural gas futures fell to €51.3 per megawatt hour, though prices remained close to a six-week high as investors continued to grapple with persistent supply disruptions in the Middle East, with the Strait of Hormuz still largely closed. President Donald Trump renewed warnings that the US could launch further strikes on Iran if no agreement is reached, shortly after saying he had postponed a planned attack. Now in its 12th week, the conflict has severely disrupted shipping flows through the Strait, affecting roughly one-fifth of global LNG supply, while hostilities have also spread to key production assets in Qatar. Investors are closely monitoring Europe’s LNG imports, as the region races to secure enough fuel this summer to replenish storage ahead of next winter.
2026-05-20
European Gas Prices Retreat
European natural gas futures fell to around €49.8 per MWh, retreating from a near six-week high amid renewed hopes for a US–Iran agreement that could reopen the Strait of Hormuz. President Trump has held off on immediate military action against Iran after Qatar, Saudi Arabia, and the UAE requested additional time to pursue negotiations over a nuclear deal. Separately, reports suggested that Iran had agreed to a long-term freeze of its nuclear program rather than a full dismantlement of its facilities. Roughly one-fifth of global LNG supply has been disrupted since the conflict began in late February, with hostilities extending to key production assets in Qatar. The situation raised serious concerns for Europe, particularly as the region needs to refill storage ahead of the next winter.
2026-05-19
European Gas Prices Hit Near 6-Week High
European natural gas futures climbed to €51.2 per MWh, their highest in nearly six weeks, amid persistent uncertainty surrounding the Strait of Hormuz. US-Iran peace negotiations remain stalled as both sides maintain firm positions, leaving the strait largely closed. President Donald Trump warned Iran of potential consequences if it failed to swiftly reach a deal, saying his patience was growing thin. A drone attack that caused a fire at a UAE nuclear facility over the weekend also reinforced concerns over the fragility of the ceasefire. Meanwhile, Trump and Chinese President Xi both agreed the key waterway should be open but made no concrete progress toward restoring normal shipping conditions. LNG flows to Europe have been disrupted since the conflict began in late February, particularly after hostilities expanded to key production assets in Qatar. This has raised serious concerns for Europe, particularly as the region needs to refill its tanks before next winter.
2026-05-18