Natural gas Europe reference prices have dropped to their lowest level in almost 18 months, due to milder weather forecasts over the next few weeks and the proposed US peace plan on Ukraine.
The TTF Dutch natural gas contracts, a point of reference for European trading, closed 1.25% down on the Amsterdam market, 30,31 euro per MWh.
According to OilPrice, it's the biggest drop in reference natural gas prices since May 2024, as the latest weather models predict higher December temperatures following the current deep freeze in northwwestern Europe.
The European natural gas future contracts had been trading at 32 euro for months, but geopolitics and weather are pushing them down.
Traders are closely monitoring Trump peace plan talks, as possible success could lead to a number of relaxations in energy sanctions against Russia. But that's a big if.