Highlights TTF month-ahead price up 28% to Eur114/MWh at 0730 GMT Contract surged as high as Eur120/MWh in early trade Europe’s TTF gas price made huge gains in early trade Feb. 24 after Ukraine said Russia had launched a full-scale invasion of the country.
The TTF March price rose by as much as 35% in early trading, reaching Eur120/MWh, according to ICE data. The March contract was 28% higher at Eur114/MWh as of 0730 GMT. As well as the geopolitical implications of the escalation, the European gas market is concerned over potential disruption to Russian gas deliveries to Europe amid low storage stocks. A total of 41.6 Bcm of Russian gas transited Ukraine to Europe in 2021, accounting for around 10% of European demand. There remains a risk that Ukraine’s vast pipeline network that carries […]