Overview
- The Dutch TTF benchmark rose roughly 20% this week, trading at €34.30/MWh in the morning and later touching €35.31 for the highest level since August.
- European gas storage is about 52%, well below the roughly 67% seasonal average, heightening concern over the region’s buffer.
- Forecasts point to another cold spell late in the month that could extend and intensify withdrawals from storage.
- U.S. threats of 25% tariffs on countries trading with Iran, a key supplier to Turkey, have increased worries over regional supply competition.
- Stronger LNG demand from China and analyst warnings about possible shipping risks near the Strait of Hormuz are tightening global availability and supporting prices.