Europe’s benchmark natural gas prices jumped by 6% at Monday market opening in Amsterdam as oil prices rallied amid the escalation in the Middle East that threatens the recovery of energy flows. The front-month price at the Dutch Title Transfer Facility (TTF), the benchmark for Europe’s gas trading, soared by 6% as of 7:50 a.m. Amsterdam time on Monday, to hit the highest level since the 2022-2023 crisis. At $97.31 (84.275 euros) per megawatt-hour (MWh), the price now exceeds the January 2023 levels, when Europe faced the first winter…

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