Europe Gas Prices Head for Fourth Straight Weekly Gain

AI Summary

European natural gas prices mark a fourth consecutive weekly increase due to escalating Middle East tensions impacting LNG supply expectations. The Dutch TTF benchmark kept steady but remains elevated amid geopolitical uncertainty.

European benchmark natural gas prices on Friday headed for their fourth consecutive weekly gain as the re-escalation in the Middle East dampened hopes that LNG flows from the Strait of Hormuz could normalize soon. The front-month price at the Dutch Title Transfer Facility (TTF), the benchmark for Europe's gas trading, was basically flat in early morning trade in Amsterdam on Friday, but it was on track for a 7% jump this week alone. This week, the re-escalation of hostilities between the United States and Iran intensified concerns about LNG supply…