European Gas Prices Rebound but Weekly Loss Looms Amid Ongoing Risks

European natural gas prices rebounded on Friday, but the gains were short-lived as the market continued its downward trend. The Dutch front-month TTF contract rose 2% to trade around 78.50 euros per megawatt-hour (MWh), but was still set for a decline of about 1.8% on the week.

The UK's NBP futures also gained 2% during Friday's session, trading near 195.00 pence per therm, but were on track to break their five-week winning streak with a projected weekly loss of roughly 1.9%.

Geopolitical risks in the Middle East continued to support market nerves, despite the recent resolution of a labor dispute in France's energy sector that had previously hampered regasification and sendout operations at the Dunkirk LNG terminal.