The Dutch TTF benchmark rises above €97 a megawatt-hour
European natural-gas prices climbed to their highest level since 2022 on Monday, with the Dutch TTF benchmark reaching €97.50 per megawatt-hour, The Wall Street Journal reported. The Journal cited colder weather that could boost demand and Iran-war disruptions to global supplies. OilPrice.com reported an earlier-session TTF high of €95.73.
More context
European natural-gas prices rose above €97 a megawatt-hour on Monday for the first time since late 2022, amid concerns about winter supply and disruption to global supplies from the Iran war. The Wall Street Journal reported that the Dutch TTF front-month contract, Europe’s benchmark, was up 3.1% at €96.71 in early trading after reaching €97.50 earlier in the session. OilPrice.com reported a different early-session quote: a 2.1% opening rise to as much as €95.73 a megawatt-hour. Prices remain below the peaks of the 2022 energy crisis, the Journal said. It also reported that colder weather could lift demand across the continent. OilPrice.com said concerns were mounting that the gas withdrawal season had begun, with no signs Qatar’s liquefied natural gas flows would return soon.
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Reporting
- OilPrice.com — Europe's Natural Gas Prices Soar to Four-Year High as Winter Looms | OilPrice.com
- The Wall Street Journal — Natural-Gas Prices in Europe Climb to Highest Level Since 2022 Amid Iran War - WSJ
- energyconnects.com — European Gas Hits €97 for First Time Since 2022 on Winter Risks
Verifier’s note
OilPrice and The Wall Street Journal report European gas reaching its highest levels since 2022 amid winter supply concerns and Iran-related disruption; Energy Connects reports the same price surge and winter risks. The reports match the proposed event and its current timing.