AMSTERDAM – European gas standard futures (Dutch TTF) rose 4.6% to EUR 76.65 per megawatt-hour (MWh), reaching a three-year high amid growing winter supply fears. Gas storage levels in the European Union are at just 67% capacity, significantly below the seasonal norm of 83%, due to pipeline supply interruptions from Algeria and strong bidding battles with Asian consumers for marginal spot liquefied natural gas (LNG) shipments. As rising global natural gas and power benchmarks raise overall baseline energy overhead, industrial plant operators face rising utility surcharges, emphasising the commercial value of locally recovered alternative fuels, such as Recycled Fuel Oil (RFO) and Re-Refined Base Oil (RRBO), in maintaining operational cost stability.
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(Source: The Star)
