According to AleaSoft Forecasting, TTF gas futures in the ICE market for the FrontMonth, on Monday, February 26, reached the weekly minimum settlement price, of €24.01/MWh. During the last week of February, prices increased in almost all sessions. As a result, on Friday, March 1, these futures registered their weekly maximum settlement price, €25.81/MWh.
According to data analyzed at AleaSoft Energy Forecasting, this price was 13% higher than the previous Friday.
Forecasts of low temperatures and lower wind energy production contributed to the increase in TTF gas futures prices, as well as supply disruptions from Norway. However, despite the increases, abundant supply of liquefied natural gas and high levels of European reserves kept settlement prices below those registered in the first weeks of February, AleaSoft Forecasting reports.
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