TTF Prices Rebound from 5-Week Low

2026-02-18 16:41 By Agna Gabriel 1 min. read

European natural gas futures climbed more than 5% to above €31 per megawatt-hour on renewed geopolitical risk, recovering from a five-week low near €29.88 on February 17 as concerns grew about possible disruptions to LNG and oil shipments through the strategic Strait of Hormuz.

Iran’s Revolutionary Guard held military drills in the strait, including a temporary closure for exercises, underscoring how tensions with the US could threaten energy routes and add a risk premium to markets.

US Vice President JD Vance said recent nuclear talks with Iran did not address US “red lines” and emphasized President Donald Trump’s right to use force if diplomacy fails, keeping political uncertainty high.

Meanwhile, Iran’s foreign minister described the discussions as “constructive,” and further negotiations are expected.

Inventories across the EU remain low at under 34%, the weakest since 2022, with Germany below 24%, leaving markets sensitive to possible supply shocks.



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