FX.co ★ TTF Prices Fall on Tuesday

European natural gas futures have softened to €35 per megawatt-hour, supported by consistent supply flows from Norway and steady demand, which have contributed to a calmer market environment. President Trump's 50-day ultimatum to Russia has somewhat alleviated concerns over immediate supply disruptions; however, uncertainties may resurface as the ultimatum coincides with Norway's scheduled maintenance beginning late August. Simultaneously, a heatwave sweeping across North Asia is increasing gas demand, resulting in LNG shipments being redirected away from Europe. This situation is causing apprehensions about a possible tightening of supply as Europe strives to build its winter reserves. Currently, EU gas storage facilities are approximately 62% full, which is below the usual levels for this time of year. The warmer temperatures experienced in parts of Europe are also boosting demand for cooling, although forecasts predict a reversion to average temperatures later in July, which could potentially reduce consumption. Nevertheless, any significant rise in prices appears limited, given concerns about global economic growth amid President Trump's escalating trade tariffs.