European natural gas futures stabilized below €33 per megawatt hour, near a nine-month low, as supply remained steady and warm weather reduced demand. Temperatures across north-west Europe are expected to stay above seasonal averages until next week, further dampening heating demand and supporting lower prices.
TTF prices hover at nine-month low
Additionally, supply from key producers, including Norway and LNG imports, is expected to remain stable, alleviating concerns over short-term shortages. Europe’s gas storage levels are recovering slowly after the winter drawdown, currently sitting at 38.41% full—significantly lower than the 61.2% recorded at the same point last year—raising some concerns for later in the year if refill rates remain sluggish.
Geopolitical developments continue to draw attention
Meanwhile, geopolitical developments continue to draw attention. US President Trump met with Ukrainian President Zelenskiy and urged Russia to halt its ongoing attacks, signaling a potential shift in diplomatic efforts. In a controversial move, Trump suggested that Zelenskiy might be willing to cede Crimea to Russia as part of a broader peace agreement, although such terms are widely seen as unacceptable to Ukraine’s leadership. Any formal negotiations remain uncertain, with both sides far apart on key issues, casting a shadow over the prospects for a swift resolution to the conflict.
