FX.co ★ TTF Prices Down for 3rd Week

European natural gas futures experienced a significant decrease of over 7% this week, settling at €33.8 per megawatt-hour—this marks the third consecutive week of declines, edging closer to seven-month lows. This price reduction comes as a relief for Europe, which is grappling with the challenge of restocking gas supplies following an especially cold winter that left inventories unusually low. Although early gas injections have commenced and are currently surpassing the five-year average, considerable challenges continue to loom. The market found some reprieve after President Trump temporarily halted planned tariff increases on most countries for 90 days, alleviating apprehensions about a broader global economic slowdown. Nevertheless, he elevated tariffs on Chinese imports to 125%, perpetuating a high level of uncertainty. Traders remain cautious due to the ambiguous impact that ongoing US-China trade tensions might have on LNG availability and its distribution to Europe.