Natural Gas EU Prices

Natural gas EU prices averaged USD 16.17 per MMBtu in May, up 4.3% from April. On 29 May, the commodity traded at USD 15.73 per MMBtu, down 0.5% from 30 April.

In March, European natural gas prices surged at the fastest speed since Russia’s invasion in early 2022, and in May, they continued to gain ground as the Strait of Hormuz remained closed. EU inventories ended the month just above 40%, far below the 5-year seasonal average of 54%.