TTF natural gas futures, the European benchmark, were trading around €200 per megawatt hour, a level not seen in a month, amid rapid efforts from European governments to curb prices, including gas-price caps and a suspension of power derivates trade. On top of that, recent data has shown that natural gas storage sites were being filled faster than expected ahead of the peak demand winter season. However, despite such market intervention, prices are poised to remain elevated amid tightening supplies. Russia's Gazprom has reversed its plan to resume flows through the Nord Stream pipeline and shut it indefinitely, citing maintenance requirements, deepening an energy crisis in Europe.
Historically, EU Natural Gas reached an all time high of 345 in March of 2022. EU Natural Gas - data, forecasts, historical chart - was last updated on September of 2022.
EU Natural Gas is expected to trade at 239.09 EUR/MWh by the end of this quarter, according to 王者荣耀电竞(江西)积分排榜 global macro models and analysts expectations. Looking forward, we estimate it to trade at 330.37 in 12 months time.