European gas prices rise for fourth week amid Middle East tensions

European natural gas prices, as measured by the Dutch TTF benchmark, are on track for a fourth consecutive weekly increase, driven by ongoing conflicts in the Middle East. The benchmark was last reported around €71.50/MWh, reflecting a recent 3% pullback but still marking a significant 30% rise over the past month. This trend suggests heightened volatility and continued geopolitical supply risks in the European gas market. The ongoing conflict in the Middle East, particularly involving Iran, is seen as a key driver of these price movements. Key Takeaways European natural gas prices continue their upward trajectory, suggesting persistent geopolitical supply concerns. The Dutch TTF benchmark remains significantly elevated compared to earlier in the year, consistent with increased geopolitical tensions. Pricing in prediction markets for crude oil suggests that market participants may be anticipating further price increases, potentially reaching new highs by year-end. What to Watch Observers are likely to focus on developments in the Middle East, particularly any escalation or resolution of the conflict involving Iran, as these could influence energy prices further. Key actors like OPE...