Natural gas prices could rise in the coming months. Will it surpass last year’s record?

Europe can breathe a sigh of relief for now. Thanks to a particularly mild winter and a successfully developed strategy of diversifying supplies and reducing consumption, Europe avoided a catastrophic energy crisis that threatened to unfold after Russia’s invasion of Ukraine. Unused gas storage capacity is around 60%, which is ten percentage points above the historical average for this time of year, and the natural gas price level on the TTF exchange has fallen by more than 85% compared to the high level reached in August last year, namely from €340/ MWh to less than 50 euros/MWh.

But this successful series of events should not make you carefree. There is a risk that in the coming months…