According to AleaSoft Energy Forecasting, for TTF gas futures in the ICE market for the FrontMonth, during the fourth week of July, settlement prices remained in the same range as those of the previous week, with values above €32/MWh in most sessions. Tuesday, July 23, was the only exception. On that day, futures registered their weekly minimum settlement price, €31.62/MWh.
On the other hand, on Friday, July 26, they reached their weekly maximum settlement price, €32.90/MWh. According to data analyzed at AleaSoft Energy Forecasting, this price was 2.3% higher than the previous Friday.
High European reserve levels contributed to TTF gas futures settlement prices below €33/MWh in the fourth week of July. However, further problems at the Freeport liquefied natural gas export plant in the fourth week of July had an upward influence on prices. Forecasts of higher temperatures and lower wind energy production, which might increase demand for electricity generation, also contributed to the price increase at the end of the week.
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