TTF Prices Surge on Ras Laffan Attack

2026-03-19 07:27 By Jam Kaimo Samonte 1 min. read

European natural gas futures soared about 14% to above €62.5 per MWh on Thursday, reaching their highest levels in over three years after Iran launched attacks on key energy infrastructure across the Middle East, intensifying supply concerns.

Iran carried out missile strikes on Qatar’s Ras Laffan Industrial City, a complex housing the world’s largest LNG export plant, marking one of several energy assets Tehran pledged to target following an Israeli strike on Iran’s South Pars gas field.

Abu Dhabi also suspended operations at its Habshan gas facilities after intercepted missiles caused falling debris, while LNG assets in Bahrain were reportedly hit by heavy missile strikes.

Around 20% of global LNG flows typically pass through the Strait of Hormuz, which has been largely shut since the Iran war began.

The disruption comes just ahead of the region’s stockpiling season, with storage levels already about 15 percentage points below the five-year average after a colder winter.



News Stream
European Natural Gas Prices Fall to 2-Week Low
European natural gas prices fell 5% to around €86/MWh on Friday, their lowest level in two weeks, extending weekly losses to around 15% amid growing hopes of a diplomatic resolution to the Middle East conflict. Sentiment improved after Qatar’s Emir discussed de-escalation efforts with US President Donald Trump, reinforcing optimism following the Democrats’ gains in the US midterm elections. However, prices remain well above their pre-war levels, as the disruption of Middle Eastern LNG exports, which previously accounted for around a fifth of global supply, leaves Europe facing a tight market ahead of winter. EU gas storage has fallen to 74%, well below the five-year seasonal average of 90%, while Germany’s inventories are below 61%. Colder temperatures and weaker wind and solar generation have increased withdrawals, while Norwegian pipeline supplies remain constrained by outages. Competition for LNG is also expected to intensify as Asian buyers increase spot purchases.
2026-11-06
European Natural Gas Prices Fall to 2-Week Low
European natural gas prices fell below €88/MWh on Friday, erasing earlier gains and returning to a two-week low amid hopes of a diplomatic resolution to the US-Iran war. However, an immediate deal remains uncertain, with key disagreements between the two sides still unresolved. Continued attacks on vessels transiting the Strait of Hormuz have also heightened concerns over Gulf LNG shipments, with the conflict disrupting nearly a fifth of global LNG supply. Europe’s energy balance remains tight ahead of winter, with EU gas storage at around 74%, well below the five-year seasonal average of 90%, while Germany’s reserves have fallen below 61%. Colder weather, coupled with low wind and solar generation, has prompted early withdrawals from storage, while reduced Norwegian pipeline flows due to outages have added to supply concerns. Prices are on track to drop by more than 15% this week, their first weekly decline in six weeks.
2026-11-06
European Natural Gas Prices Rebound from 2-Week Low
European natural gas prices rebounded to around €90/MWh from a two-week low of €88 on November 4, as persistent supply constraints continued to underpin the market. Despite the recent decline from record levels above €100/MWh, Europe’s energy balance remains fragile, with LNG deliveries from the Persian Gulf still disrupted by the Iran conflict. Tehran reported that a tanker had struck a mine in the Strait of Hormuz, while discussions with Oman are underway to restore shipping traffic. The conflict removed nearly a fifth of global LNG exports, leaving European inventories unusually low ahead of winter and intensifying competition with Asian buyers. EU storage levels have fallen to 74%, compared with a five-year seasonal average of 90%, while Germany’s reserves are below 61%. Colder temperatures and weaker wind and solar generation have increased withdrawals. Also, Norwegian pipeline supplies remain below capacity due to outages.
2026-11-05