EU Natural Gas Prices Bounce Back

2026-03-05 07:41 By Judith Sib-at 1 min. read

European natural gas futures rose above €53/MWh on Thursday, moving back near a three-year high after Russian President Putin threatened to shut off gas supplies to Europe.

Although Russian gas flows to Europe have already fallen significantly in recent years and are expected to decline further due to the EU ban on its gas imports, Russia remains a notable supplier, accounting for an estimated 13% of the EU’s imports in 2025.

A potential halt heightens risks to Europe’s balance, amid supply disruptions caused by Middle East tensions, with the world’s largest LNG plant in Qatar remaining offline and the Strait of Hormuz closed.

On Wednesday, prices dropped 8.3% on reports that Iran had reached out to the US to negotiate an end to the conflict, though Tehran later denied the claim.

Meanwhile, President Trump said the US would insure and escort vessels passing through the Strait but key details remain unclear.

These come as EU gas storage is tight, currently below 30% of capacity.



News Stream
EU Natural Gas Prices Bounce Back
European natural gas futures rose above €53/MWh on Thursday, moving back near a three-year high after Russian President Putin threatened to shut off gas supplies to Europe. Although Russian gas flows to Europe have already fallen significantly in recent years and are expected to decline further due to the EU ban on its gas imports, Russia remains a notable supplier, accounting for an estimated 13% of the EU’s imports in 2025. A potential halt heightens risks to Europe’s balance, amid supply disruptions caused by Middle East tensions, with the world’s largest LNG plant in Qatar remaining offline and the Strait of Hormuz closed. On Wednesday, prices dropped 8.3% on reports that Iran had reached out to the US to negotiate an end to the conflict, though Tehran later denied the claim. Meanwhile, President Trump said the US would insure and escort vessels passing through the Strait but key details remain unclear. These come as EU gas storage is tight, currently below 30% of capacity.
2026-03-05
TTF Prices Slump 9% as Iran Talks Raise Hopes
European natural gas futures dropped more than 9% to €48.3 per megawatt-hour on Wednesday, following a nearly 60% surge over the prior two sessions, after reports that Iran may be willing to discuss ending the Middle East conflict that has shaken energy markets. While the offer raised hopes, US officials remain skeptical that either side is ready for a short-term resolution. The world’s largest LNG plant in Qatar remains offline, and the Strait of Hormuz is largely closed, stoking fears of a major supply shock. European supplies have not yet been directly affected, as shipments scheduled for March are already en route, but the continent remains vulnerable with storage levels low and large volumes needed to refill reserves this summer. Meanwhile, President Donald Trump said the US would ensure vessels and provide naval escorts if needed.
2026-03-04
EU Natural Gas Extends Rally
European natural gas futures rose more than 4% to above €56/MWh, extending their rally to hit an over three-year high. Prices have surged 60% over the past two days following the shutdown of Qatar's LNG facilities and the closure of the Strait of Hormuz amid rising tensions in the Middle East. Uncertainty over the timeline for restoring production at QatarEnergy’s Ras Laffan plant, the world's largest LNG export hub, has heightened fears of a supply shortfall, particularly as the Strait’s closure has also constrained shipments from other major producers in the region. Meanwhile, President Trump said on Tuesday that the US would insure and accompany ships passing through the Gulf if needed, though key details of this plan remain unclear. These ongoing disruptions are placing additional strain on Europe’s already depleted winter gas storage, raising concerns about summer restocking.
2026-03-04