European natural gas prices saw mixed trading as the week got underway with the market’s unease over supply risks this winter showing further out the curve.

The September and October Title Transfer Facility (TTF) contracts declined slightly on Monday and were trading near $11/MMBtu and $13, respectively. Winter contracts gained across the board and traded near $17 as the market weighs hefty storage inventories against the possibility of prolonged LNG supply disruptions if labor strikes in Australia move ahead. 

Prompt TTF surged nearly 30% last Wednesday after unions took steps toward strikes that could begin this week. While the rally lost steam, the contract finished 15% higher last week, its largest weekly gain since June. 

[Market Moves: What is affecting the natural...