Commodities
US Natural Gas Futures Price Held Steady Amid European Price Surge
The US natural gas futures price has held above $2.90 per MMBtu on Tuesday, near a two-month high.
This is despite Dutch TTF futures jumping more than 2% to above €73 per megawatt-hour, the highest level in over three and a half years.
The spread between European and American gas prices has been significant all year, with European gas trading at about $24.80 per MMBtu, nearly nine times the US price.
The reason for this disparity is not due to production levels, which have reached a near-record 115 Bcf/d in the Lower 48 region.