Key Moments
- Benchmark Dutch TTF natural-gas futures fell 1.3% to €28.43 per megawatt hour on Monday.
- The Dutch TTF contract has declined by nearly 10% over the past month.
- EU gas storage facilities are at 75% capacity, below the 90% level targeted by December 1.
Weather Outlook Pressures European Gas Prices
European natural-gas prices moved lower on Monday, with traders reacting to forecasts that point to warmer-than-expected temperatures in the coming period. Traders expect the milder weather outlook to curb heating demand across the region, and as a result, it is putting downward pressure on gas futures.
Benchmark Dutch TTF Contract Performance
The benchmark Dutch TTF gas contract slipped 1.3% to €28.43 a megawatt hour. This latest move extends a broader downward trend, and notably, the contract has fallen nearly 10% over the past month.
| Contract | Latest Move | Latest Price | Performance Over Past Month |
|---|---|---|---|
| Dutch TTF gas benchmark | -1.3% | €28.43 per MWh | Nearly -10% |
EU Storage Levels and Market Sentiment
The price softness comes against the backdrop of European Union gas storage facilities operating at 75% capacity. This level remains below the 90% threshold that the EU aims to reach by December 1.
Despite the current gap between actual storage and the stated requirement, overall market sentiment remains relatively calm; consequently, participants are not yet signaling heightened concern over near-term supply conditions.
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