FX.co ★ TTF Prices Fall Further Ahead Trump-Zelenskiy Meeting

European natural gas futures have declined to €30.6/MWh, approaching their lowest point since May 2024. This decline comes as traders anticipate a significant meeting between U.S. President Donald Trump and Ukraine's President Volodymyr Zelenskiy, which could result in a peace deal with Russia that involves territorial compromises. Following a 4.4% decrease last week, prices continue to slide on optimism that such an agreement might eventually facilitate the restoration of Russian energy supplies to international markets. After discussions with Russian President Vladimir Putin in Alaska, Trump announced his intention to encourage Zelenskiy towards a swift resolution, with the U.S. prepared to offer security assurances. Moreover, Trump is scheduled to consult with European leaders, including Ursula von der Leyen, Emmanuel Macron, and NATO’s Mark Rutte, to negotiate the deal's details. Although Europe has successfully minimized its reliance on Russian gas, traders speculate that easing sanctions could reduce global competition for LNG shipments. Additionally, Norway reported an unexpected outage at its Hammerfest LNG facility.