20.08.202508:40:54UTC+00TTF Prices Little Changed for 3rd Session

European natural gas futures have been consistently hovering around €31 per megawatt-hour, maintaining a position close to their lowest levels since May 2024. This stability is attributed to decreased geopolitical tensions and robust supply and demand dynamics. Currently, EU gas storage facilities are more than 74% full, a decrease from nearly 90% at this time last year. Specifically, Germany's storage levels exceed 67%, Italy's are approaching 86%, and France's are about 82%. Additionally, demand has declined due to temperatures cooler than normal for this season.

On the geopolitical side, former President Donald Trump has announced plans to orchestrate a meeting between Vladimir Putin and Volodymyr Zelensky, which would be followed by a trilateral summit also involving Trump himself. Zelensky has praised this initiative as a “major step forward,” although Russia has not yet confirmed its participation. The anticipation of progress towards peace has prompted speculation that sanctions on Russian energy might be eased in the future. Even though Europe has diversified its energy sources away from Russian gas, the potential reduction in LNG competition if sanctions are lifted is noted by traders. Additionally, a comprehensive agreement could potentially reinvigorate Russian oil exports, thereby mitigating supply risks.