European natural gas prices are accelerating higher, with analysts warning that the benchmark TTF contract could reach 100 euros per megawatt-hour if current supply constraints persist.
The outlook is driven by storage levels that have fallen to their lowest point in several years, creating a tight balance sheet for the continent heading into the autumn season.
The rally has also seen prices breach the $700 per 1,000 cubic meters threshold for the first time since late March, reflecting growing market anxiety over potential shortages.
The TTF contract has now posted gains for six consecutive trading sessions, pushing prices to 60 euros per megawatt-hour.
This marks the highest level in several months and signals a sharp repricing of supply risk.
The rally has also seen prices breach the $700 per 1,000 cubic meters threshold for the first time since late March, reflecting growing market anxiety over potential shortages.
Escalating geopolitical tensions between the United States and Iran have further complicated the supply outlook, adding a risk premium to European energy markets.