TTF gas futures in the ICE market for the FrontMonth, on December 4, reached the weekly maximum settlement price, of €40.1/MWh. This price was already 7.8% lower than the last session of the previous week. After falling another 4.9%, these futures registered their weekly minimum settlement price, €38.13/MWh, on Tuesday, December 5. According to data analyzed at AleaSoft Energy Forecasting, this price was the lowest since early October. In the last three sessions of the first week of December, prices were slightly higher but remained below €40/MWh. On Friday, December 8, the settlement price was €38.60/MWh.
In the first week of December, abundant supply and high levels of European stocks led to TTF gas futures settlement prices below €40/MWh. Milder temperatures, following the cold snap, also had a downward influence on prices.
