EU natural gas market strengthens on Ukraine transit ban – ING
Source Fxstreet
The European natural gas market has also strengthened with TTF briefly trading above EUR50/MWh, ING’s commodity analysts note.
EU gas storage can fall at a quicker pace
“Gazprom’s transit deal with Ukraine expired at the end of 2024 and as a result, Europe has lost around 15bcm of annual gas supply. However, this should be widely priced in, given that Ukraine made it clear for over a year that it did not intend to extend the transit deal.”
“Forecasts for colder weather in early January mean that gas storage could fall at a quicker pace, leaving storage to fall further below the five-year average. EU storage is 70% full, down from 85% last year and below the five-year average of 76%.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.
After a turbulent 2025, what lies ahead for commodities, forex, and cryptocurrency markets in 2026?
Crypto analyst Scott Melker identifies a prime risk/reward setup for XRP as it tests key support at $1.60, offering a tight stop-loss against potential upside targets near $2.00.
Bitcoin’s two-year rolling MVRV z-score has dropped to its lowest level ever, pointing to extreme undervaluation.
Gold (XAU/USD) attracts follow-through buying for the second consecutive day and surges past the $5,000 psychological mark during the Asian session on Wednesday amid the global flight to safety.
