European natural gas prices hit the lowest point in more than a year on Monday as prospects again emerged to end the war in Ukraine and fundamentals stayed weak.

Chart showing spot LNG vessel rates in USD/day as of Nov. 24, 2025, comparing West and East basin prices for three carrier types: 174k XDF/MEGI ($160,000 West, $78,000 East), 155k–165k TFDE ($100,000 West, $62,000 East), and 138k–145k steam turbine ($30,000 West, $20,000 East), along with Pacific, Middle East, and Atlantic voyage parameters indicating 100% fuel and hire on ballast bonus to load port, sourced from Fearnleys.

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At A Glance:

TTF nears $10 Freight rates pressure JKM higher U.S. natural gas production hits record