TTF gas futures in the ICE market for the FrontMonth, on Tuesday, January 2, continued with the declines of the last sessions of the previous week. On that day they reached the weekly minimum settlement price, of €30.57/MWh.
According to data analyzed by AleaSoft Energy Forecasting, this price was the lowest since the first half of August 2023. As of Wednesday, January 3, prices started to increase. As a result, on Friday, January 5, TTF gas futures reached their weekly maximum settlement price, €34.55/MWh. This price was 6.8% higher than the previous Friday.
In the first week of January, the forecast of a cold snap in Europe had an upward influence on TTF gas futures prices. However, at the beginning of the second week of January, forecasts of milder temperatures, abundant supply and still high levels of European stocks might exert a downward influence on the prices of these futures.
