Over the last few months Dutch TTF futures have rallied at increased tensions between Russia and Ukraine. In addition to this, all time low storage given increased demand over the year, and delays in the construction of new pipelines have squeezed futures prices. Nord Stream 2 is still facing political pressures and tightening reserves have affected expectations for the season.
Prices started at €89.93/MWh in December 6 and moved to €128.3 by December 14 – pointing to volatility remaining at highs despite a milder winter than usual abroad.
