Winter Gas Price Rally Unlikely Despite Recent Volatility

Gas prices are still expected to stabilise heading into winter despite a recent rise in spot prices on European benchmarks, energy experts have said. The UK Natural Gas Futures benchmark rose 7.2 per cent to £1.10 per therm this morning, while the Dutch TTF Futures rose 7.1 per cent to €42.60 per megawatt hour. Prices have increased by about 20 per cent this month as the threat of industrial action at key Liquefied Natural Gas (LNG) plants in Australia loomed, although these disputes have now been resolved. Prior to Russia’s…