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Commodities

European Gas Prices Soar to Record High Since December 2022

Guavy AI Editorial Team
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Natural Gas
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European gas prices have reached their highest level since December 2022, according to Bloomberg. The Dutch Title Transfer Facility (TTF), Europe's benchmark natural gas price, has risen by 3.2% to $950 per 1,000 cubic meters.

This increase comes as gas storage levels at European facilities have dropped faster than usual and there is rising demand for liquefied natural gas in Asian markets, putting pressure on supplies available for shipment to Europe.

The TTF price opened the day's trading 2.9% higher at $937.70 per 1,000 cubic meters, marking a significant spike in prices.

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