According to AleaSoft Energy Forecasting, TTF gas futures prices in the ICE market for the FrontMonth, in the last week of May remained stable, oscillating around €34/MWh €35/MWh. On Monday, May 27, these futures reached their weekly maximum settlement price, €35.24/MWh. According to the data analyzed at AleaSoft Energy Forecasting, this price was the second-highest settlement price since the end of December 2023.
However, after a decrease of 4.8%, on Tuesday, May 28, they registered their weekly minimum settlement price, €33.53/MWh. In the last session of the week, on Friday, May 31, the settlement price was €34.22/MWh, 0.3% higher than the previous Friday. For the week as a whole, the average settlement price was 1.4% higher than the previous week.
In the last week of May, forecasts of high temperatures in Europe exerted an upward influence on TTF gas futures prices. High temperatures would also affect Asia, which contributed to increased demand for liquefied natural gas in Asian markets. However, high European reserve levels and gas supplies from Norway contributed to keeping prices below €36/MWh, AleaSoft Energy Forecasting reports.
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