European Gas Prices Rise Amid Middle East Supply Concerns
European natural gas prices have edged higher due to concerns over liquefied natural gas supply security and Europe's ability to refill gas storage before winter. The benchmark August contract at the Dutch Title Transfer Facility traded at €61.80 per MWh on Friday, up 0.2% from Thursday's close.
The tensions between the US and Iran have heightened concerns over LNG supply security to Europe. According to international media reports, Equinor Chief Executive Anders Opedal said the European Union is unlikely to reach its target of filling gas storage sites to 80% before the start of the winter heating season.
The market is more vulnerable to sharp price swings when colder weather arrives due to low gas inventories. Florence Schmit, senior energy strategist in Rabobank's Global Economics & Markets team, said uncertainty surrounding energy supplies from the Middle East continues to support TTF gas prices and expected prices to remain elevated through the second half of 2026.