FX.co ★ TTF Prices Fall on Monday

European natural gas futures have declined to approximately €33.5 per megawatt-hour, approaching the 12-week low of €32.36 that was recorded on July 24th. This drop is largely attributed to anticipated increases in wind energy production, which are expected to reduce the demand for gas-powered electricity. Weather forecasts indicate slightly diminished overall energy demand, with higher wind speeds in crucial areas alleviating the reliance on gas for power generation. Meanwhile, Europe’s gas storage facilities continue to show improvement, currently at 69.2% capacity. Norwegian gas exports remain consistent, although there has been slight disruption due to an unplanned outage at Norway's Karsto plant. Additionally, a further supply reduction has occurred at the UK’s Bacton Perenco site.