European Natural Gas Prices Firm as TTF Holds Above EUR 60/MWh
ING analysts note European gas prices have strengthened, with TTF trading above EUR 60/MWh even as positioning data show funds trimming net length.
European natural gas prices remain supported, with TTF above EUR 60/MWh, according to ING’s Warren Patterson and Ewa Manthey. Storage worries continue to underpin the market.
Positioning data suggest funds have been trimming net length, but that has not stopped prices from firming. The analysts highlight the divergence between reduced speculative positioning and still-elevated prices.
The update points to ongoing supply and storage anxiety in European gas markets.
Source: FXStreet Forex News