European Gas Prices Rebound Amid Geopolitical Tensions

Europe's gas prices have resumed their upward trend after a brief two-day pullback. The benchmark Dutch front-month contract has risen by 1.77% to 72.53 euros per megawatt-hour (MWh), wiping out earlier losses.

The day-ahead wholesale gas contract in Great Britain climbed 2.8% to 180.91 pence per therm, a steeper gain than the Dutch benchmark.

The modest month-end advance comes after a year-to-date surge of over 160% for Dutch gas futures and more than 142% for their British equivalents.

Energy trading desks attribute the price increases to accelerating geopolitical anxiety, intense international competition for liquefied natural gas (LNG) cargoes, and lingering winter supply deficits.