Natural Gas EU Prices man

Natural gas EU prices averaged USD 17.90 per MMBtu in March, up 59.4% from February. On 31 March, the commodity traded at USD 17.14 per MMBtu, up 55.0% from 27 February.

After trending down for roughly a year, European natural gas prices soared in March at the quickest pace since Russia’s invasion of Ukraine in early 2022. The Iran war led to the closure of the Strait of Hormuz, cutting off about 20% of global LNG supply, and forced top LNG producer Qatar to halt production of the fuel.