The benchmark TTF natural gas contract in the Netherlands has climbed above €60 per megawatt-hour, marking a significant escalation in European energy costs.
August futures traded at €60.675 on the ICE exchange, continuing a sharp upward trajectory that has seen the contract rise for six consecutive trading sessions.
Analysts have warned that if current supply deficits persist, the TTF contract could test the €100 per megawatt-hour threshold.
This repricing reflects deepening supply constraints across the continent.
The rapid ascent has pushed prices to their highest level in several months, intensifying pressure on industrial consumers and utilities that are already managing tight storage inventories.
The move underscores the fragility of the European gas market as it approaches the autumn heating season.
Analysts have warned that if current supply deficits persist, the TTF contract could test the €100 per megawatt-hour threshold.