European gas (TTF)
Assessed by an AI model against this signal's rubric. Describes conditions; not a forecast or advice.
TTF above €100/MWh; EU storage lowest for the time of year on record
Why it's at this level
Dutch TTF gas last traded near €104/MWh (30 Oct), up from about €28 in January, after Qatari LNG deliveries to Europe stopped in May. EU storage was 74.6% full on 24 Oct against 82.9% a year earlier, the lowest for the date since 2011 (IEEFA). Hormuz talks in Doha had produced no reopening as of 31 Oct.
What this means for you
UK and European energy bills are set to rise sharply this winter. A cold winter would add further pressure on supply.
Part of a wider situation
US–Iran war and Gulf energy shock: War in stalemate with Hormuz largely closed: Brent above $110, TTF above €100, tanker attacks on 29–30 Oct.
Why it matters
European gas sets UK and EU power prices and heating bills; Europe has had no cushion since losing Russian pipeline gas.
What moves it
LNG supply, storage levels, weather, Norwegian outages, Middle East LNG routes.