Prices on the European natural gas market continue to rise, reaching their highest levels since February on Friday.
On Friday, the benchmark TTF futures contract for delivery in one month cost up to €56.10 per megawatt-hour (MWh) on the Amsterdam exchange, the highest price for around eight months.
Since the start of the week, the price has risen by 45% – or around €18 euros per MWh.
Prices are influenced by supply risks and the weather forecast, which predicts a drop in temperatures.
On the supply side, the temporary closure of a major natural gas field in the Mediterranean, the closure due to damage to the Balticconnector pipeline between Finland and Estonia, and the ongoing risk of strikes in the Australian natural gas industry are sources of uncertainty.
This uncertainty is also fuelled by the violence in Israel and Palestine.
