FX.co ★ TTF Prices Rise from 7-Month Low

European natural gas futures surged by more than 6% to €35.7 per megawatt-hour, recovering from a seven-month low. This rebound was spurred by a temporary alleviation in trade tensions. Following a period of volatility, prices reversed their losses when U.S. President Trump unexpectedly announced a reduction in planned tariffs on several countries to 10% for a 90-day period. This move softened a previously stringent position that had unsettled global markets. In Europe, a decrease in global demand might lessen the competition for LNG cargoes, thereby aiding the region in replenishing gas storage after a particularly cold winter. The rate of storage injections has already increased, recently exceeding the five-year average. Concurrently, the European Union is considering more adaptive gas storage regulations, with substantial backing for permitting up to a 10% variance from the target of 90% storage by November 1.