European natural gas prices began the week with a sharp decline, driven by a broader global market sell-off sparked by the United States’ recent introduction of reciprocity-based tariffs.
At the Title Transfer Facility (TTF) in the Netherlands, Europe’s most liquid gas trading hub, May contracts opened at 35 euros per megawatt-hour (MWh), marking a drop of approximately 4% compared to the previous session. As trading progressed, prices fell further to a low of 33.5 euros/MWh—an 8% decrease—before settling at 34.5 euros/MWh.
This marks the lowest level for European gas prices since May 2024.
The downturn is largely attributed to mounting uncertainty surrounding the new US tariffs and fears of retaliatory actions from other countries. Market participants are concerned that these protectionist measures could dampen global economic growth, weighing heavily on commodity markets, including energy.
Adding to the downward pressure are growing worries over a potential economic slowdown, which could lead to reduced energy demand across major economies.
