European natural gas futures sank to below €32/MWh in February, erasing the surge from earlier in the month to trade at their lowest since mid-January as forecasts pivoted to show warmer weather, easing the demand for gas-intensive heating. Meteorologists reconsidered the magnitude of the cold snap in northern and eastern European countries later this month, reverting the rally for prices of gas deliveries in the main northern European hubs. Forecasts of a milder winter were also seen in the United States, trimming heating consumption stateside and increasing the availability of liquified natural gas to be shipped across the Atlantic. Recent data showed that US LNG exports rose to a record of 111 million tons in 2025 amid higher export capacity on Gulf plants and higher demand for Europe as EU nations shun Russian energy. Still, European natural gas storages slipped below the 40% capacity threshold, below levels from the corresponding period of the previous year.

TTF Gas fell to 31.36 EUR/MWh on February 11, 2026, down 1.23% from the previous day. Over the past month, TTF Gas's price has risen 3.69%, but it is still 44.38% lower 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 February 11 of 2026.

TTF Gas fell to 31.36 EUR/MWh on February 11, 2026, down 1.23% from the previous day. Over the past month, TTF Gas's price has risen 3.69%, but it is still 44.38% lower 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 36.07 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 41.19 in 12 months time.



Price Day Month Year Date
Crude Oil 64.56 0.597 0.93% 8.50% -9.55% Feb/11
Brent 69.37 0.565 0.82% 8.60% -7.73% Feb/11
Natural gas 3.14 0.0245 0.79% -7.91% -11.94% Feb/11
Gasoline 1.98 0.0114 0.58% 9.65% -4.61% Feb/11
Heating Oil 2.42 0.0204 0.85% 12.29% -1.03% Feb/11
TTF Gas 31.77 0.02 0.06% 5.03% -43.66% Feb/11
UK Gas 74.01 -0.4372 -0.59% -5.78% -44.55% Feb/11
Ethanol 1.68 0.0250 1.52% 7.37% -4.96% Feb/10
Naphtha 559.87 9.74 1.77% 7.98% -14.67% Feb/09
Propane 0.66 0.004 0.57% 4.24% -29.68% Feb/09
Uranium 88.00 1.7500 2.03% 6.22% 30.66% Feb/10
Methanol 2,204.00 -29.00 -1.30% -0.94% -15.59% Feb/10



Related Last Previous Unit Reference
Germany Natural Gas Imports 364140.00 350327.27 Terajoule Dec 2025
France Natural Gas Imports 131866.79 148363.05 Terajoule Dec 2025
Germany Natural Gas Stocks Inventory 67.78 68.74 TWh Feb 2026
France Natural Gas Stocks Inventory 33.94 34.40 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
31.36 31.75 345.00 3.37 2010 - 2026 EUR/MWh Daily

News Stream
EU Natural Gas Falls Sharply
European natural gas futures sank to below €32/MWh in February, erasing the surge from earlier in the month to trade at their lowest since mid-January as forecasts pivoted to show warmer weather, easing the demand for gas-intensive heating. Meteorologists reconsidered the magnitude of the cold snap in northern and eastern European countries later this month, reverting the rally for prices of gas deliveries in the main northern European hubs. Forecasts of a milder winter were also seen in the United States, trimming heating consumption stateside and increasing the availability of liquified natural gas to be shipped across the Atlantic. Recent data showed that US LNG exports rose to a record of 111 million tons in 2025 amid higher export capacity on Gulf plants and higher demand for Europe as EU nations shun Russian energy. Still, European natural gas storages slipped below the 40% capacity threshold, below levels from the corresponding period of the previous year.
2026-02-09
European Natural Gas Rise Further
European natural gas futures rose above €36/MWh, extending the rebound from the three-week low of €32.86 on February 3rd amid forecasts of a new cold front in Europe and tighter supply for alternative power generating sources. Meteorologists forecasted a fresh cold snap in norther and easter European countries, lifting the outlook of demand on gas-intensive heating and driving gas traders to raise shipments of North American LNG. In the meantime, wind output across north west Europe remained weak, increasing reliance on gas for electricity generation. Low storage levels continued to support prices, with EU gas inventories around 39.2% full compared with about 52% a year ago. Storage remained particularly low in Germany at 30.2%, France 29% and the Netherlands 23.5%. EU stocks are projected to fall to about 26% by the end of March, implying strong summer injections will be needed to reach 90% before next winter.
2026-02-06
TTF Prices Rebound from 3-Week Low
European natural gas futures rose to €34/MWh, rebounding from a three-week low of €32.86 on Feb 3 as below-normal wind generation lifted demand for gas from power plants and tightened near-term supply. Wind output across north west Europe remains weak, increasing reliance on gas for electricity generation. While temperatures are currently above normal and expected to peak by Sunday, colder conditions are forecast from February 13, which could boost heating demand. Low storage levels continue to support prices, with EU gas inventories around 39.2% full compared with about 52% a year ago. Storage remains particularly low in Germany at 30.2%, France 29% and the Netherlands 23.5%. EU stocks are projected to fall to about 26% by the end of March, implying strong summer injections will be needed to reach 90% before next winter. Higher LNG arrivals this week may ease pressure, while markets also monitor Ukraine Russia peace talks for supply implications.
2026-02-05