European gas prices fall on Dutch TTF benchmark after recent volatility

Natural gas prices on the Dutch TTF exchange, Europe’s key gas price benchmark, fell to €43.3 per megawatt-hour on April 15, nearly returning to levels seen in early March following the first US and Israeli strikes on Iran.

By comparison, on February 27, just before the strikes began, the price closed at €31.96, Caliber.Az reports, citing Estonian media.

It then surged sharply amid escalating tensions and concerns over supply risks through the Strait of Hormuz.

Over the past weeks, TTF prices have fluctuated in response to developments in the Middle East and statements from parties involved in the conflict, reaching a peak of €69.3 in mid-March.

After a ceasefire was announced on April 10, prices briefly declined to €43.6.

Experts note that gas prices remain highly sensitive to supply risks from the Middle East, through which a significant share of global oil and gas flows passes, directly influencing European energy markets and electricity prices.

By Bakhtiyar Abbasov