According to AleaSoft Energy Forecasting, for TTF gas futures in the ICE market for the Front‑Month, the average value registered during the first quarter of 2024 was €27.56/MWh. Compared to the average of the Front‑Month futures traded in the previous quarter, €43.15/MWh, the average decreased by 36%. Compared to the Front‑Month futures traded in the same quarter of 2023, when the average price was €53.41/MWh, there was a decrease of 48%.
In the first quarter of 2024, high European reserve levels and abundant supply led to lower TTF gas futures prices. However, supply concerns contributed to limiting the price decline. These concerns were influenced by problems at the Freeport liquefied natural gas export plant in the United States, supply disruptions from Norway and instability in the Middle East, AleaSoft Energy Forecasting reports.
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