TTF Prices Drop from 7-Month High

2026-01-19 08:08 By Agna Gabriel 1 min. read

European natural gas futures fell 5% to around €35 per megawatt-hour, retreating from last week’s seven-month high near €37 after a sharp rally of about 30% as a milder outlook for temperatures could lead to lower demand for heating.

While temperatures are still set to cool from current levels, forecasts for this week have been revised warmer than previously thought, reducing near-term heating demand.

Beyond temperatures, competition for cargoes could intensify as parts of Asia brace for a cold wave, which may lift heating demand there and tighten the global LNG market.

EU gas storage levels are around 50.4% full, well below roughly 61.7% a year ago.

In Germany, storage has fallen to about 42.8%, with similarly low levels in France (42.4%) and the Netherlands (36.2%), while Italy (64.9%) and Austria (53.8%) are also drawing down reserves.

Wind power has helped offset some gas demand, accounting for around 19–20% of EU electricity generation recently.



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