European and British wholesale natural gas prices declined on Monday as reports of alternative energy shipping routes eased concerns about supply disruptions in the Persian Gulf. The benchmark Dutch front-month Title Transfer Facility (TTF) contract fell 2.5% to €77.55 per megawatt-hour (MWh), extending its decline from the previous week. In Britain, the equivalent National Balancing Point (NBP) wholesale gas contract dropped 2.91% to 192.36 pence per therm, approaching its lowest levels in several weeks. The declines followed reports that liquefied natural gas (LNG) tankers and crude oil carriers were increasingly using alternative routes to transport energy supplies from the Gulf.
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