German natural gas futures edged up to above €33 per megawatt-hour, recovering from a three-week low of €32.77 on Feb 3, as below-normal wind generation lifted demand for gas from power plants and tightened near-term supply. Wind output across north west Europe remains weak, increasing reliance on gas for electricity generation. While temperatures are currently above normal and expected to peak by Sunday, colder conditions are forecast from February 13, which could boost heating demand. Low storage levels continue to support prices, with EU gas inventories around 39.2% full compared with about 52% a year ago. Storage remains particularly low in Germany at 30.2%. EU stocks are projected to fall to about 26% by the end of March, implying strong summer injections will be needed to reach 90% before next winter. Higher LNG arrivals this week may ease pressure, while markets also monitor Ukraine Russia peace talks for supply implications.

German Gas rose to 34.75 EUR/MWh on February 6, 2026, up 3.91% from the previous day. Over the past month, German Gas's price has risen 15.27%, but it is still 38.55% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Germany Natural Gas THE reached an all time high of 58.86 in February of 2025. This page includes a chart with historical data for Germany Natural Gas THE. Germany Natural Gas THE - data, forecasts, historical chart - was last updated on February 7 of 2026.

German Gas rose to 34.75 EUR/MWh on February 6, 2026, up 3.91% from the previous day. Over the past month, German Gas's price has risen 15.27%, but it is still 38.55% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Germany Natural Gas THE is expected to trade at 37.74 EUR/MWh by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 42.32 in 12 months time.



Price Day Month Year Date
UK Gas 85.98 4.8398 5.96% 15.42% -37.00% Feb/06
Ethanol 1.64 0.0100 0.62% 2.51% -6.84% Feb/06
Naphtha 547.47 -15.34 -2.72% 11.78% -15.04% Feb/05
Propane 0.65 0.001 0.13% 4.61% -29.27% Feb/06
Uranium 85.25 -0.4500 -0.53% 4.22% 22.40% Feb/06
Methanol 2,220.00 20.00 0.91% -0.67% -15.69% Feb/06
German Gas 34.75 1.31 3.91% 15.27% -38.55% Feb/06
Urals Oil 54.63 -1.06 -1.90% 6.14% -20.04% Feb/05


Germany Natural Gas THE
The Trading Hub Europe (THE) index is an index reflecting the price of natural gas at the German virtual trading point, serving as a reference for the country. The index is compiled by the European Energy Exchange (EEX) based on prices of traded contracts and their volumes. Prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our natural gas market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.
Actual Previous Highest Lowest Dates Unit Frequency
34.75 33.44 58.86 28.16 2024 - 2026 EUR/MWh daily

News Stream
Germany Natural Gas Futures Edge Up from 3-Week Low
German natural gas futures edged up to above €33 per megawatt-hour, recovering from a three-week low of €32.77 on Feb 3, as below-normal wind generation lifted demand for gas from power plants and tightened near-term supply. Wind output across north west Europe remains weak, increasing reliance on gas for electricity generation. While temperatures are currently above normal and expected to peak by Sunday, colder conditions are forecast from February 13, which could boost heating demand. Low storage levels continue to support prices, with EU gas inventories around 39.2% full compared with about 52% a year ago. Storage remains particularly low in Germany at 30.2%. EU stocks are projected to fall to about 26% by the end of March, implying strong summer injections will be needed to reach 90% before next winter. Higher LNG arrivals this week may ease pressure, while markets also monitor Ukraine Russia peace talks for supply implications.
2026-02-05
German Natural Gas Futures Hover Below 7-Month High
German natural gas futures traded around €34 per megawatt-hour, below a seven-month high of €40.3 reached on January 23, as LNG supply concerns eased and near-term US weather forecasts turned milder, reducing heating demand and freeing more gas for exports. Europe relies on LNG for roughly half of its gas needs after losing most Russian pipeline supplies, with the US supplying about 27% of EU gas and LNG imports in 2025, making prices sensitive to American supply conditions. Geopolitical risk premiums also declined after President Donald Trump said the US is in talks with Iran, easing fears of disruptions to LNG and oil shipments through the Strait of Hormuz. Despite these factors, EU gas storage remains at just 41.1% full and Germany at 32.4%, far below last year’s level and the five-year average, leaving the market vulnerable to renewed cold or supply shocks.
2026-02-02
German Natural Gas Futures Bounce Back to 7-Month High
German natural gas futures rebounded to above €40/MWh, moving back toward the highest level since June 2025, as low storage levels and colder weather expectations intensified supply concerns. Europe’s gas inventories are around 44% full, close to the lowest for this time of year since 2022, with Germany even tighter at about 35.1% after strong heating demand. Also, recent disruptions to US LNG supply tightened availability for Europe, which sourced more than half of its LNG from the US last year. Freeport LNG in Texas reduced feedgas over the weekend and is discussing possible cargo rescheduling with buyers despite a gradual recovery in flows. EU officials have warned about growing dependence on US LNG and are seeking alternative suppliers. Geopolitical risks added to the bullish tone after President Donald Trump warned Iran to reach a nuclear deal or face military strikes, raising fears of potential disruptions to LNG and oil shipments through the Strait of Hormuz.
2026-01-29