FX.co ★ TTF Prices Rise on Friday

European natural gas futures climbed by over 3.5% to reach €33 per megawatt-hour on Friday, marking a return to growth following a flat performance over the past three days. This uptick is attributed to forecasts of cooler weather and renewed optimism after China indicated a willingness to restart trade discussions with the United States, which has buoyed global markets, energy included. For the week, European gas prices have increased by 1.9%. In northwestern Europe, the expectation of colder temperatures in the coming days is likely to drive higher gas demand. Concurrently, attention is shifting to forthcoming European Union discussions regarding the reduction of gas storage targets, with proposed levels of 82–83 billion cubic meters (equating to 75%–76% capacity), significantly below the averages seen in recent years. Current EU storage facilities are 39.5% filled.