FX.co ★ TTF Prices Bounce Back Toward to 7-Month High

European natural gas futures surged over 3%, approaching €40 per megawatt hour, edging closer to the highest point seen since June 2025. This increase comes amidst concerns over low storage levels and forecasts of cold weather, which amplify supply worries. Current gas inventories in Europe stand at approximately 44% full, marking one of the lowest levels for this period since 2022, following substantial heating demands. Specifically, Germany's reserves are at 35.1%, France's at 33.7%, and the Netherlands' at 28.4%, while Italy and Austria report higher levels at 59.3% and 47.8%, respectively. Additional pressure on prices has arisen due to recent disruptions in U.S. LNG supply, caused by freezing weather conditions that hampered production, thus limiting availability for Europe. Last year, Europe sourced over half of its LNG from the U.S. Freeport LNG in Texas recently reduced feedgas intake over the weekend and is now negotiating potential cargo rescheduling with its buyers, even as supply flows begin to stabilize. Furthermore, EU officials have expressed concerns about the increasing reliance on U.S. LNG and are actively seeking alternative suppliers.