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Low EU gas storage, LNG disruptions keep TTF above 65 euros per MWh

Across the EU, storage is just over 61%, the lowest seasonal level since 2009, while Germany sits near 50%, Commerzbank said.

Reported · Written up by our desk · Energy

Commerzbank analysts warn that low European gas inventories, suspended LNG exports from Qatar, and the end of the refilling phase are leaving European gas prices elevated.

FXStreet reports that the Dutch TTF benchmark is already above EUR 65 per MWh, and the bank cautions that a widening storage gap and ongoing Middle East tensions could push prices higher for longer.

Commerzbank pointed to storage conditions across the EU, saying inventories are just over 61%, the lowest seasonal level since the data series began in 2009, while Germany’s storage is roughly 50%, 27 percentage points below the five year average.

The note also flags that sentiment around energy supplies remains tight as the market moves through the post-refill period, leaving near-term price pressure supported by inventory constraints.

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