FX.co ★ TTF Prices Rise Amid Norwegian Supply Disruptions

European natural gas futures have risen above €36 per megawatt-hour, primarily due to a reduction in supply from Norway, the leading gas exporter for the region. This supply decrease is attributed to scheduled maintenance at the Kollsnes processing facility. Last year, Norway was responsible for about a third of the European Union's gas imports, so any supply interruptions can significantly affect the market. Traders are focusing on replenishing storage levels in preparation for winter, all while remaining attentive to geopolitical tensions, such as the ongoing US trade tariffs and the unresolved conflict in Ukraine. Nonetheless, weaker gas demand in China is allowing more liquefied natural gas (LNG) to be redirected to Europe, which is moderately reducing supply pressures during the summer months.