TTF natural gas for delivery next month adds a new session in which it has become more expensive and reaches 43 euros per megawatt-hour (MWh). With this last session, which is now the fifth consecutive one in which the price has risen, intraday highs have been reached since August 23.
In fact, the price of TTF natural gas had not closed above 43 euros/MWh since April 12. On Monday, the price increased by 7.3%, reaching a price of around 43.7 euros/MWh at closing.
In this last week, the price of natural gas has increased by 26.4%, accumulating increases that have caused it to go from trading close to 34 euros/MWh last Monday to the figures reached this Monday, as explained by Bloomberg .
Does not reach previous year’s highs
Despite the increase registered in recent sessions, in the accumulated value of the year, TTF natural gas accumulates a drop of 40.2%. A little over a year ago, in August 2022, TTF gas reached its all-time highs, above 300 euros/MWh.
The price of TTF gas rises at a time when Russia has decided to cut gasoline and diesel exports to third countries in order to ensure supply and stabilize its domestic market.
Likewise, the market is awaiting the end of the partial strike initiated by workers at two liquefied natural gas (LNG) facilities in Australia.