European natural gas futures rose toward €36 per megawatt-hour, nearing a six-month high due to concerns about LNG facility outages and Europe's progress in refilling gas storages for winter. Repairs at Australia's Wheatstone gas facility have halted production, affecting global LNG supply as Europe competes with Asia, where demand is high due to a heatwave. EU gas storage injections have slowed, and while storage levels are currently strong at 72.33%, there are concerns about future supplies, especially with potential losses of Russian gas. Germany's Uniper SE secured €13 billion in damages from Gazprom for unmet gas deliveries, raising reliability concerns about Russian supplies.
TTF Gas increased 3.18 EUR/MWh or 9.83% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, EU Natural Gas TTF reached an all time high of 345 in March of 2022. EU Natural Gas TTF - data, forecasts, historical chart - was last updated on June 14 of 2024.
TTF Gas increased 3.18 EUR/MWh or 9.83% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. EU Natural Gas TTF is expected to trade at 35.46 EUR/MWh by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 38.07 in 12 months time.