European natural gas futures rose above €48 per MWh, recouping losses from the previous session amid continued lack of any concrete resolution to the Middle East conflict despite recent optimism. Negotiations to end the war were thrown back into disarray after the White House denied Iran’s claim that a draft peace agreement was making progress. New US strikes on a military site and other targets near the Strait of Hormuz also highlighted risks to ongoing talks. A deal between the two sides could lead to the reopening of the Strait, which has remained largely closed for three months now. Continued disruption has fueled concerns that Europe may face difficulties replenishing inventories ahead of winter, with current storage levels at around 38%, well below the five-year average of more than 50% for this period. Adding to demand-side pressures, Europe is experiencing its first major heatwave of the season, with record temperatures forecast in cities such as London, Paris, and Madrid.

TTF Gas fell to 46.39 EUR/MWh on May 28, 2026, down 0.43% from the previous day. Over the past month, TTF Gas's price has fallen 1.02%, but it is still 32.32% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, EU Natural Gas reached an all time high of 345 in March of 2022. EU Natural Gas - data, forecasts, historical chart - was last updated on May 28 of 2026.

TTF Gas fell to 46.39 EUR/MWh on May 28, 2026, down 0.43% from the previous day. Over the past month, TTF Gas's price has fallen 1.02%, but it is still 32.32% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. EU Natural Gas is expected to trade at 49.88 EUR/MWh by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 60.96 in 12 months time.



Price Day Month Year Date
Crude Oil 89.94 1.255 1.42% -15.85% 47.58% May/28
Brent 94.53 0.236 0.25% -14.41% 49.21% May/28
Natural gas 3.28 0.1826 5.90% 23.82% -6.94% May/28
Gasoline 3.16 0.0240 0.77% -12.10% 55.64% May/28
Heating Oil 3.62 0.0232 0.64% -11.66% 76.77% May/28
TTF Gas 46.70 0.11 0.24% -0.36% 33.21% May/28
UK Gas 112.67 0.4217 0.38% -2.65% 36.81% May/28
Ethanol 2.00 -0.0150 -0.75% 0.13% 13.84% May/27
Naphtha 729.99 -45.24 -5.84% -21.80% 33.72% May/27
Propane 0.87 -0.003 -0.32% 6.76% 15.92% May/27
Uranium 85.30 0.3500 0.41% -1.95% 18.55% May/27
Methanol 2,980.00 -22.00 -0.73% -6.55% 33.10% May/28



Related Last Previous Unit Reference
Germany Natural Gas Imports 338086.80 364747.59 Terajoule Apr 2026
France Natural Gas Imports 174521.82 170169.56 Terajoule Apr 2026
Germany Natural Gas Stocks Inventory 75.92 74.97 TWh May 2026
France Natural Gas Stocks Inventory 49.22 48.85 TWh May 2026

EU Natural Gas
Dutch TTF Gas is a leading European benchmark price as the volumes traded represent more than 14 times the amount of gas used by the Netherlands for domestic purposes. Contracts are for physical delivery through the transfer of rights in respect of Natural Gas at the Title Transfer Facility (TTF) Virtual Trading Point, operated by Gasunie Transport Services (GTS), the transmission system operator in the Netherlands. Delivery is made equally each hour throughout the delivery period from 06:00 (CET) on the first day of the month until 06:00 (CET) on the first day of the next month. Futures are available for trading in the Intercontinental Exchange Inc. (ICE). Prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our natural gas market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. The data is supplied by a third party and, while efforts are made to ensure its accuracy, Trading Economics does not verify the data and makes no representations or warranties regarding its accuracy..
Actual Previous Highest Lowest Dates Unit Frequency
46.39 46.59 345.00 3.37 2010 - 2026 EUR/MWh Daily

News Stream
European Gas Prices Rise
European natural gas futures rose above €48 per MWh, recouping losses from the previous session amid continued lack of any concrete resolution to the Middle East conflict despite recent optimism. Negotiations to end the war were thrown back into disarray after the White House denied Iran’s claim that a draft peace agreement was making progress. New US strikes on a military site and other targets near the Strait of Hormuz also highlighted risks to ongoing talks. A deal between the two sides could lead to the reopening of the Strait, which has remained largely closed for three months now. Continued disruption has fueled concerns that Europe may face difficulties replenishing inventories ahead of winter, with current storage levels at around 38%, well below the five-year average of more than 50% for this period. Adding to demand-side pressures, Europe is experiencing its first major heatwave of the season, with record temperatures forecast in cities such as London, Paris, and Madrid.
2026-05-28
TTF Prices Fall on Hopes for Hormuz Reopening Deal
European natural gas futures fell below €47 per megawatt hour as optimism grew that the US and Iran could reach a deal to reopen the Strait of Hormuz, a key route for global energy supplies. Sentiment improved despite conflicting signals from both sides, with Iranian state television reporting an unofficial draft of an interim agreement while the White House dismissed the report as “a complete fabrication.” The Strait normally handles around 20% of global oil and LNG flows, and a reopening would ease pressure on energy markets. Prolonged disruption has raised concerns that Europe may struggle to rebuild gas inventories ahead of winter, with storage facilities currently about 38% full compared with a five year average above 50% for this period. Adding to demand concerns, Europe is facing its first major heat wave of the season, with record temperatures expected across cities including London, Paris and Madrid.
2026-05-27
TTF Prices Fall to Over 2-Week Low
European natural gas futures dropped 5% to around €45 per megawatt hour, the lowest in over two weeks, after Iranian state television said Tehran aims to restore commercial shipping through the Strait of Hormuz to pre-war levels within a month, boosting optimism that the US and Iran are nearing a deal to reopen the key energy route. The Strait is critical for global LNG flows, and prolonged disruption could increase competition for limited supplies, complicating Europe’s efforts to rebuild inventories ahead of winter. European gas storage sites are currently around 38% full, well below the five year average of just above 50% for this time of year, while refilling activity has remained slower than usual. At the same time, Europe is facing its first major heat wave of the season, with temperatures expected to break records across cities including London, Paris and Madrid through the rest of the week.
2026-05-27