The price of TTF natural gas for delivery in April in the Dutch market continues to rise and this Thursday it reached 195 euros per megawatt hour (MWh), its all-time high, due to uncertainty about the supply of this raw material after the invasion of Ukraine for Russia.
Gas began trading with a strong rebound on yesterday’s price and shortly after 9:15 a.m. it reached 195 euros per MWh, 12% more than the day before, and then fell to 182 euros around 10:00 a.m., according to Blommberg data collected by Efe.
After the Russian military invasion of Ukraine a week ago, the price of gas has skyrocketed and has doubled compared to what it was before the start of the military operation (87 euros). This Thursday’s level pulverizes the records set the days before last Christmas Eve, when it reached 184.9 euros during the negotiation due to the decrease in supply from Russia to Europe due to the gas pipeline that crosses Ukraine.
Russia is the main supplier of natural gas in Europe, especially in the center and east of the continent, and has received harsh economic sanctions for its military action in Ukraine that for now do not affect the energy sector. However, the invasion of Ukraine continues and the uncertainty has triggered the prices of gas and oil (today it was close to 120 dollars a barrel) in the commodity markets.