According to AleaSoft Energy Forecasting, TTF gas futures in the ICE market for the FrontMonth, on Monday, July 15, registered their weekly minimum settlement price, €31.37/MWh. On Tuesday, July 16, there was a price rise of 5.9% over the previous day. As a result, on that day, the futures reached their weekly maximum settlement price, €33.24/MWh.
According to data analyzed at AleaSoft Energy Forecasting, this price was the highest since July 5. In the last sessions of the week, prices were lower but remained above €32/MWh. On Friday, July 19, the settlement price was €32.17/MWh, 1.4% higher than the previous Friday.
Supply levels and high European reserves kept settlement prices of TTF gas futures below €33/MWh in almost all sessions of the third week of July, despite rising temperatures in Europe. Forecasts of milder temperatures and higher wind energy production might exert their downward influence in the fourth week of July. In addition, operations at the Freeport liquefied natural gas export plant will progressively resume as repairs to the damage caused by Hurricane Beryl are completed.
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