According to AleaSoft Energy Forecasting, TTF gas futures in the ICE market for the FrontMonth, in the third week of March continued the upward trend of the previous week to reach the weekly maximum settlement price, €28.87/MWh, on Tuesday, March 19. According to data analyzed at AleaSoft Energy Forecasting, this price was 17% higher than the previous Tuesday and the highest since early February. In contrast, these futures registered their weekly minimum settlement price, €26.40/MWh, on Thursday, March 21. This settlement price was still 1.4% higher than the previous Thursday. In the last session of the week, the settlement price increased by 5.2% from the previous day to €27.78/MWh.
In the third week of March, supply concerns continued to drive up prices, which remained limited by the high levels of European reserves. However, the attack on a Ukrainian gas storage infrastructure over the weekend might exert its upward influence on prices in the coming days, as several European countries store gas in Ukraine, AleaSoft Energy Forecasting reports.
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