European natural gas futures surged over 19% this week

On Friday (July 17), in late European trading, ICE UK natural gas futures rose by 5.58% to 140.170 pence/therm, continuing their rebound since June 25 and approaching the March 27 high of 141.220 pence and the March 19 high of 165.500 pence. The cumulative increase for this week is 19.61%. Benchmark TTF Dutch natural gas futures rose by 5.01% to 57.935 euros/MWh, also continuing their rebound since closing at 40.405 euros on June 25, approaching the March 19 high of 72 euros. The cumulative increase for this week is 19.76%. ICE EU carbon emission allowances (futures price) rose by 0.53% to 79.09 euros/ton, with a cumulative weekly increase of 0.50%.