European Natural Gas Prices Surge Above €60 as LNG Flows Stall
TTF benchmark jumps over 9% amid stalled LNG flows and fading US–Iran deal hopes, ING strategists note.
European natural gas prices surged on Thursday, with the benchmark TTF contract rising more than 9% to breach €60 per megawatt-hour. The rally was fueled by a stall in liquefied natural gas (LNG) deliveries and diminishing hopes that a US–Iran dialogue would quickly ease energy supply constraints.
ING strategists Warren Patterson and Ewa Manthey highlighted the move in a note, pointing to the market’s sensitivity to any disruption in alternative gas sources. The jump underscores persistent supply worries in Europe, where a shift away from Russian pipeline gas has left the region more reliant on global LNG flows.
Source: FXStreet Forex News