European natural gas prices have strengthened over the summer amid heightened geopolitical tensions, and the trend could continue through the coming months.
According to analysts at BofA Global Research, a warm winter “left the global gas market swimming in inventory for the second consecutive year in 2024.” But since February, Title Transfer Facility (TTF) prices have doubled, they said.
September TTF closed at $12.54/MMBtu on Wednesday, down about 2% from Tuesday. It was falling again on Thursday.