European Gas Prices Surge Amid Geopolitical Tensions
The European natural gas market continues to experience high prices, with the TTF benchmark reaching 68.19 EUR/MWh on August 25, 2026. This represents a significant increase from the previous day's price of 61.42 EUR/MWh and is attributed to ongoing geopolitical tensions in the Middle East.
The possibility of intensified sanctions against Iran and potential disruptions to energy infrastructure are maintaining a high risk premium on the market, according to Energocom company. Furthermore, European gas stocks remain below average levels, with storage facilities filled to around 62%, compared to a seasonal average of about 79%. The current pace of injections is considered insufficient to quickly rebuild reserves ahead of the cold season.
Additionally, strong demand in Asia for liquefied natural gas (LNG) and maintenance works in Norway are also contributing to pressure on prices. Forward prices for deliveries from September 2026 to February 2027 range between approximately 66.7 and 68.3 EUR/MWh.