EU Natural Gas Falls Sharply

2026-02-09 10:18 By Andre Joaquim 1 min. read

European natural gas futures sank to below €32/MWh in February, erasing the surge from earlier in the month to trade at their lowest since mid-January as forecasts pivoted to show warmer weather, easing the demand for gas-intensive heating.

Meteorologists reconsidered the magnitude of the cold snap in northern and eastern European countries later this month, reverting the rally for prices of gas deliveries in the main northern European hubs.

Forecasts of a milder winter were also seen in the United States, trimming heating consumption stateside and increasing the availability of liquified natural gas to be shipped across the Atlantic.

Recent data showed that US LNG exports rose to a record of 111 million tons in 2025 amid higher export capacity on Gulf plants and higher demand for Europe as EU nations shun Russian energy.

Still, European natural gas storages slipped below the 40% capacity threshold, below levels from the corresponding period of the previous year.



News Stream
EU Natural Gas Falls Sharply
European natural gas futures sank to below €32/MWh in February, erasing the surge from earlier in the month to trade at their lowest since mid-January as forecasts pivoted to show warmer weather, easing the demand for gas-intensive heating. Meteorologists reconsidered the magnitude of the cold snap in northern and eastern European countries later this month, reverting the rally for prices of gas deliveries in the main northern European hubs. Forecasts of a milder winter were also seen in the United States, trimming heating consumption stateside and increasing the availability of liquified natural gas to be shipped across the Atlantic. Recent data showed that US LNG exports rose to a record of 111 million tons in 2025 amid higher export capacity on Gulf plants and higher demand for Europe as EU nations shun Russian energy. Still, European natural gas storages slipped below the 40% capacity threshold, below levels from the corresponding period of the previous year.
2026-02-09
European Natural Gas Rise Further
European natural gas futures rose above €36/MWh, extending the rebound from the three-week low of €32.86 on February 3rd amid forecasts of a new cold front in Europe and tighter supply for alternative power generating sources. Meteorologists forecasted a fresh cold snap in norther and easter European countries, lifting the outlook of demand on gas-intensive heating and driving gas traders to raise shipments of North American LNG. In the meantime, wind output across north west Europe remained weak, increasing reliance on gas for electricity generation. Low storage levels continued to support prices, with EU gas inventories around 39.2% full compared with about 52% a year ago. Storage remained particularly low in Germany at 30.2%, France 29% and the Netherlands 23.5%. EU stocks are projected to fall to about 26% by the end of March, implying strong summer injections will be needed to reach 90% before next winter.
2026-02-06
TTF Prices Rebound from 3-Week Low
European natural gas futures rose to €34/MWh, rebounding from a three-week low of €32.86 on Feb 3 as below-normal wind generation lifted demand for gas from power plants and tightened near-term supply. Wind output across north west Europe remains weak, increasing reliance on gas for electricity generation. While temperatures are currently above normal and expected to peak by Sunday, colder conditions are forecast from February 13, which could boost heating demand. Low storage levels continue to support prices, with EU gas inventories around 39.2% full compared with about 52% a year ago. Storage remains particularly low in Germany at 30.2%, France 29% and the Netherlands 23.5%. EU stocks are projected to fall to about 26% by the end of March, implying strong summer injections will be needed to reach 90% before next winter. Higher LNG arrivals this week may ease pressure, while markets also monitor Ukraine Russia peace talks for supply implications.
2026-02-05