30.03.202606:35:54UTC+00TTF Prices Rise

European natural gas futures climbed to €55.3 per MWh on Monday, marking a 73% jump so far in March and putting prices on track for their strongest monthly gain since September 2021. The rally has been fueled by mounting concerns over deeper supply disruptions as the conflict in the Middle East intensifies. Iran-backed Houthi militants in Yemen have entered the war, launching their first attack on Israel, while the United States has deployed thousands of troops to the region, heightening fears of further escalation that could disrupt additional energy flows.

The war has effectively halted LNG shipments through the Strait of Hormuz and forced the shutdown of the world’s largest LNG plant in Qatar, leaving Europe scrambling to replace Gulf supplies. European gas storage levels have fallen to a critically low 28%, raising doubts about the bloc’s ability to rebuild inventories before the next heating season. Analysts warn that energy shortages could emerge within weeks if LNG shipments are not restored.