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In the las week of October prices for Front-Month TTF gas futures on the ICE market remain in the €50/MWh range for the third consecutive week. The average price for the last week of October was €50.36/MWh, slightly above the previous week’s average (0.9%), according to AleaSoft Energy Forecasting.
Gas storages in European Union are almost full, and there is no fear of supply problems during the winter. Even with these inventories, prices remain high due to a nervous market caused by the conflict in the Middle East. Chevron has announced the end of the labour dispute at the Australian LNG plant. This should ease the pressure on gas prices, but in the short term, developments in the Israeli conflict will determine the trend.
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