TTF gas futures in the ICE market for the FrontMonth, on Monday, January 8, registered an 8.6% drop compared to the last session of the previous week. The settlement price was €31.58/MWh. According to the data analyzed at AleaSoft Energy Forecasting, in the rest of the sessions of the week, settlement prices were also below €32/MWh. On Tuesday, January 9, these futures reached the weekly minimum settlement price, of €30.64/MWh. On the other hand, on Friday, January 12, after a 3.8% rise, they registered their weekly maximum settlement price, €31.99/MWh. However, this price was still 7.4% lower than the previous Friday.
At the beginning of the second week of January, forecasts of milder temperatures than initially expected exerted their downward influence on the prices of these futures. However, an unplanned decline in the gas flow from Norway, the worsening Middle East conflict and forecasts of low temperatures contributed to the price rise on Friday, January 12. Nevertheless, high levels of European reserves continued to limit price increases.
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