European natural gas futures rose to €33 per megawatt-hour, extending a 6.9% gain from the previous session, as fears grow that escalating tensions between United States and Iran could disrupt LNG flows through key Middle East routes. Markets are focused on shipments via the Strait of Hormuz, a route for about 20% of global LNG, including exports from Qatar, the second largest exporter. A report from Axios said US military action against Iran could come sooner than expected, with Israel pushing for regime change, raising risks to regional supply. Tight EU inventories add support, with European Union storage near 32.5%, the lowest since 2022, and Germany below 23%. Still, warmer weather, steady flows despite outages in Norway and stronger renewables in Germany are easing pressure.

TTF Gas fell to 32.76 EUR/MWh on February 20, 2026, down 1.33% from the previous day. Over the past month, TTF Gas's price has fallen 16.45%, and is down 28.65% 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 in March of 2022. EU Natural Gas - data, forecasts, historical chart - was last updated on February 20 of 2026.

TTF Gas fell to 32.76 EUR/MWh on February 20, 2026, down 1.33% from the previous day. Over the past month, TTF Gas's price has fallen 16.45%, and is down 28.65% 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 33.04 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 38.06 in 12 months time.



Price Day Month Year Date
Crude Oil 66.22 -0.184 -0.28% 9.23% -5.94% Feb/20
Brent 71.45 -0.207 -0.29% 9.52% -4.00% Feb/20
Natural gas 2.99 -0.0015 -0.05% -38.57% -27.48% Feb/20
Gasoline 2.01 -0.0045 -0.22% 8.29% -1.20% Feb/20
Heating Oil 2.63 0.0158 0.60% 8.23% 8.18% Feb/20
TTF Gas 32.81 -0.39 -1.18% -16.32% -28.54% Feb/20
UK Gas 79.16 -2.9056 -3.54% -23.65% -28.75% Feb/20
Ethanol 1.70 0.0400 2.41% 7.41% -7.47% Feb/19
Naphtha 564.50 4.71 0.84% 8.11% -14.27% Feb/19
Propane 0.64 0.003 0.45% 2.12% -29.77% Feb/19
Uranium 89.30 0.4500 0.51% 4.75% 37.60% Feb/19
Methanol 2,159.00 -21.00 -0.96% -4.09% -14.56% Feb/13



Related Last Previous Unit Reference
Germany Natural Gas Imports 388717.25 350327.27 Terajoule Dec 2025
France Natural Gas Imports 131866.79 148363.05 Terajoule Dec 2025
Germany Natural Gas Stocks Inventory 54.34 56.08 TWh Feb 2026
France Natural Gas Stocks Inventory 28.25 28.91 TWh Feb 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. Trading Economics does not verify any data and disclaims any obligation to do so.
Actual Previous Highest Lowest Dates Unit Frequency
32.76 33.20 345.00 3.37 2010 - 2026 EUR/MWh Daily

News Stream
TTF Prices Rise on LNG Supply Risks
European natural gas futures rose to €33 per megawatt-hour, extending a 6.9% gain from the previous session, as fears grow that escalating tensions between United States and Iran could disrupt LNG flows through key Middle East routes. Markets are focused on shipments via the Strait of Hormuz, a route for about 20% of global LNG, including exports from Qatar, the second largest exporter. A report from Axios said US military action against Iran could come sooner than expected, with Israel pushing for regime change, raising risks to regional supply. Tight EU inventories add support, with European Union storage near 32.5%, the lowest since 2022, and Germany below 23%. Still, warmer weather, steady flows despite outages in Norway and stronger renewables in Germany are easing pressure.
2026-02-19
TTF Prices Rebound from 5-Week Low
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.
2026-02-18
TTF Prices Fall to 5-Week Low
European natural gas futures fell to below €30 per megawatt hour, the lowest in five weeks, as milder weather forecasts eased near-term demand and reduced pressure on tight supplies. Weather models point to above normal temperatures across parts of Europe in the coming days, offering relief after a volatile start to the year and slowing withdrawals from storage. Inventories across the European Union remain low at under 34% capacity, the weakest since the 2022 energy crisis, with levels particularly depleted in Germany at below 24%. Additionally, natural gas prices in the United States fell to a four-month low on warmer weather, increasing LNG availability for export to Europe.
2026-02-16