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The Dutch TTF front-month gas contract, Europe's benchmark, traded above €100 per MWh for the first time since 2022, up over 4% on the day. Prices had been around €32 before the Iran war began in late February, though they remain well below their August record of about €340.
Surging European gas prices raise nitrogen fertilizer production costs and energy-wide inflation, which can lift urea and feed-grain costs.
entelera.comEntelera ResearchNov 1, 2026
euronews.comOct 28, 2026After 136 past bullish geopolitics events, Natural Gas moved a median +2.7% over 5 sessions (63% higher; middle half -1.8% to +8.8%), and +4.0% over 20.
After 205 past bullish geopolitics events, Urea moved a median +0.4% over 5 sessions (53% higher; middle half -2.1% to +3.0%), and -0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
