Natural Gas EU Prices

Natural gas EU prices averaged USD 15.18 per MMBtu in June, down 6.1% from May. On 30 June, the commodity traded at USD 14.56 per MMBtu, down 7.4% from 29 May.

In June, prices averaged the lowest since the Iran war broke out in February, thanks to the U.S.-Iran interim peace deal, the reopening of the Hormuz Strait and the impending normalization of Qatar’s LNG output. That said, European inventories are still 15 percentage points below the five-year seasonal mean, keeping prices high.