14:27 - 9.09.2026

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September 9, Fineko/abc.az. European natural gas benchmark prices reached their highest level since January 2023 following a four-session rally triggered by escalating geopolitical conflict in the Persian Gulf.

Benchmark Dutch TTF futures climbed 2.8% to €77.98 per megawatt-hour. Simultaneously, global crude oil prices surged past $100 per barrel following military strikes involving US forces and Iranian tankers in the region.

Supply chain disruptions have left European storage facilities at just 67% capacity, significantly below the five-year average of 84% ahead of the upcoming heating season. In Germany, storage levels stand at 55%, with the Ministry of Economic Affairs acknowledging that reaching pre-winter fill targets is now technically impossible. Despite tight inventories and elevated price pressures, energy analysts note that an immediate physical deficit remains unlikely without further compounding disruptions.