Created
: 2025.08.25
2025.08.25 20:00
Fading optimism over a Russia-Ukraine peace is providing support for European Gas prices, ING's commodity experts Ewa Manthey and Warren Patterson note.
"At the same time, concerns over flows to Europe amid upcoming Norwegian maintenance will also provide support to the market. Front-month Title Transfer Facility (TTF) futures managed to settle more than 8% higher over the week. EU Gas storage is close to 76% full, below the 91% seen at the same stage last year and lower than the 83% 5-year average."
"US natural Gas has been more bearish, with Henry Hub down 7.5% over the last week and settling at its lowest level since October 2024. This is despite last week's storage build coming in below average. However, overall storage remains 5.8% above the 5-year average, while we are moving towards a period where we expect to see reduced cooling demand. This is allowing for larger storage builds ahead of the 2025/2026 winter."
Created
: 2025.08.25
Last updated
: 2025.08.25
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