European natural gas prices dropped below €49 per megawatt hour but remained relatively close to their highest level in six weeks on fresh skepticism that the US would reach an imminent agreement with Iran to restore energy exports out of the Persian Gulf. Hawkish rhetoric from Iranian officials weighed against Washington's signal that both countries were close to agreeing on a deal. The developments maintained the loose halt in exports from major GCC producers since March amid the naval blockade for tankers crossing the Strait of Hormuz, removing a key source of LNG supply for Asia and Europe. Meanwhile, gas sources from Norway were higher to weigh against shortages elsewhere. Maintenance in the Troll field eased and Norwegian exports rose early 40% to 260 million cubic meters per day.

TTF Gas fell to 48.69 EUR/MWh on May 22, 2026, down 1.46% from the previous day. Over the past month, TTF Gas's price has risen 9.63%, and is up 33.38% compared to the same time last year, 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 345.00 in March of 2022. EU Natural Gas - data, forecasts, historical chart - was last updated on May 24 of 2026.

TTF Gas fell to 48.69 EUR/MWh on May 22, 2026, down 1.46% from the previous day. Over the past month, TTF Gas's price has risen 9.63%, and is up 33.38% compared to the same time last year, 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 97.00 0.650 0.67% 1.20% 57.65% May/22
Brent 103.94 1.360 1.33% -1.08% 60.45% May/22
Natural gas 2.92 -0.0970 -3.21% 5.83% -21.58% May/22
Gasoline 3.46 0.0830 2.46% 0.01% 64.03% May/22
Heating Oil 3.92 0.0908 2.37% -1.65% 85.92% May/22
TTF Gas 48.69 -0.72 -1.46% 9.63% 33.38% May/22
UK Gas 117.00 -3.8200 -3.16% 5.81% 32.26% May/23
Ethanol 2.04 0.0150 0.74% 5.99% 13.06% May/22
Naphtha 815.17 7.57 0.94% -12.37% 49.24% May/22
Propane 0.84 -0.003 -0.40% 3.44% 11.89% May/22
Uranium 84.70 0 0% -2.81% 18.38% May/22
Methanol 3,054.00 -15.00 -0.49% -1.39% 36.89% May/22



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 71.50 70.88 TWh May 2026
France Natural Gas Stocks Inventory 47.19 46.80 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
48.69 49.41 345.00 3.37 2010 - 2026 EUR/MWh Daily

News Stream
EU Natural Gas Remains Near 6-Week High
European natural gas prices dropped below €49 per megawatt hour but remained relatively close to their highest level in six weeks on fresh skepticism that the US would reach an imminent agreement with Iran to restore energy exports out of the Persian Gulf. Hawkish rhetoric from Iranian officials weighed against Washington's signal that both countries were close to agreeing on a deal. The developments maintained the loose halt in exports from major GCC producers since March amid the naval blockade for tankers crossing the Strait of Hormuz, removing a key source of LNG supply for Asia and Europe. Meanwhile, gas sources from Norway were higher to weigh against shortages elsewhere. Maintenance in the Troll field eased and Norwegian exports rose early 40% to 260 million cubic meters per day.
2026-05-21
European Gas Prices Near 6-Week High
European natural gas futures fell to €49.2 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