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European natural gas prices jump above EUR60/MWh as LNG hopes fade
ING says TTF rising more than 9% reflects stalled Persian Gulf LNG flows and storage levels below 2021 benchmarks, raising winter spike risk for 2026/27.
European natural gas prices surged as hopes for a US-Iran deal faded, with the TTF benchmark jumping more than 9% to trade back above EUR60/MWh, according to ING strategists cited by FXStreet.
ING analysts said the market is becoming more exposed to price spikes as Persian Gulf LNG flows fail to resume and European storage levels fall, now below 2021 benchmarks.
They warned that each additional day without those LNG inflows increases vulnerability heading into the 2026/27 heating season, when supply tightness could amplify price swings.
FXStreet also noted broader energy-linked price pressures in markets, with the report tying the move to concerns about supply and inflation.
Latest closeNat gas $2.778 ▲4.4%