26.08.202508:55:25UTC+00TTF Prices Snap 4-Day Gain

European natural gas futures dipped slightly, declining over 1% to €33.5 per megawatt-hour (MWh), ending a four-day upward trend. This shift comes as traders assess the impact of Norwegian maintenance activities and ongoing geopolitical tensions. Upcoming maintenance planned at several sites is expected to reduce gas flows, though restrictions at the significant Troll field are anticipated to be less severe than initially feared. Amidst these circumstances, Europe is hastily working to increase its gas reserves ahead of winter, with current storage levels at 75.5%, compared to 91% at this time last year. Specifically, Germany's reserves are at 68.6%, Italy's at 87.4%, and France's at 83.8%. Market anxiety persists due to the conflict between Russia and Ukraine, highlighted by Kyiv's recent strikes on Russian energy facilities and the United States' suggestion of additional sanctions against Moscow. President Trump has warned of imposing stricter measures within two weeks if peace negotiations do not progress.