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🇦🇹 Austria /Energy & Infrastructure

Gas prices remain high with no relief in sight

From Der Standard · () German

Translated from German and summarized by DistantNews. Read the original for the full story.

At a glance

News Sources not specified Ongoing story
  • The benchmark TTF gas contract for delivery in one month traded at about €73 per megawatt-hour on Monday.
  • The price stood more than 5% above the previous week and 121% above its level a year earlier.
  • Uncertainty surrounding Iran and the Strait of Hormuz, along with lower storage levels, continued to weigh on the market.

There is still no sign of relief in the gas market. Uncertainty over the situation in Iran and the Strait of Hormuz continues to push prices higher, while gas storage facilities are not as full as they were a year ago.

The TTF natural-gas futures contract for delivery in one month traded at around €73 per megawatt-hour on the Amsterdam exchange on Monday. That marked an increase of just over 5% from the previous week.

Compared with the same point last year, the contract was up 121%. The new week therefore began without the easing that the market had been hoping for.

About this summary

Originally published by Der Standard in German. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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