According to AleaSoft Energy Forecasting, settlement prices of TTF gas futures in the ICE market for the FrontMonth, in the first week of July remained below €34/MWh. The weekly average was 3.3% lower than the last week of June.
On Tuesday, July 2, these futures registered their weekly maximum settlement price, €33.68/MWh. On Wednesday, July 3, there was a 3.0% drop compared to the previous day and the settlement price was €32.69/MWh. According to data analyzed at AleaSoft Energy Forecasting, this was the weekly minimum settlement price and the lowest since May 21. Although prices rose on Thursday, they fell again on Friday. On Friday, July 5, the settlement price was €33.07/MWh, 4.1% lower than the previous Friday.
High European reserve levels and weather conditions contributed to the decline in TTF gas futures prices in the first week of July. However, there are concerns about liquefied natural gas supply due to hurricanes in America in the coming months and increased demand for cooling in Asian markets.
