16:33 23 March 2026
Natural gas prices in Europe rising sharply
The European gas market is under renewed upward pressure due to rising geopolitical tensions and supply disruptions. Natural gas futures increased by over 5%, with Dutch TTF benchmark prices reaching about €62/MWh.
The main driver is the escalating conflict between the United States and Iran, particularly around the Strait of Hormuz, a key global energy route. Threats from both sides and ongoing hostilities have severely disrupted LNG transport, cutting off around 20% of global supply. Additionally, Qatar’s largest LNG facility has been partially shut down, with significant production damage that could take years to repair.
Analysts expect prolonged supply constraints and rising prices, with forecasts suggesting gas could reach €72/MWh in the near term. Europe faces particular challenges, as gas storage levels remain well below average, forcing increased competition with Asia for limited LNG supplies.
(pb.pl)
