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Commodities

European Natural Gas Prices Soar Amid Supply Disruptions and Heatwaves

Guavy AI Editorial Team
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Natural Gas
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Natural gas prices in Europe have surged to new heights, driven by supply concerns and increased electricity demand.

The price of natural gas on the Netherlands-based TTF hub rose by 1.4% to €62.26 per megawatt-hour for September futures.

Data from Gas Infrastructure Europe shows that gas storage levels across EU countries are currently at 60.8%, below historical averages.

The heatwaves affecting Southern and Central Europe have led power plants to consume more gas, redirecting volumes that would otherwise be injected into storage ahead of winter.

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