Natural Gas EU Prices

Natural gas EU prices averaged USD 11.23 per MMBtu in February, down 3.6% from January. On 27 February, the commodity traded at USD 11.06 per MMBtu, down 19.3% from 30 January.

Prices trended down again in February, as forecasts pointed to milder weather in northwest Europe and the U.S., reducing heating demand and LNG supply disruptions. That said, prices nearly doubled in early March after the U.S.-Iran war led to the closure of the Strait of Hormuz and the world’s largest LNG export plant in Qatar.