Unsurprisingly, the cessation of Russian gas via Ukraine has pushed prices for natural gas higher across Europe. The Dutch TTF gas hub’s front-month contract reached a ten-month high of €42.57 per megawatt-hour, reflecting market jitters. Traders are also paying a record premium for European gas for the upcoming summer, a reversal of the usual pricing trend where summer gas is cheaper. This suggests there are significant concerns about the challenges in restocking during the summer of 2025.
