TTF Natural Gas Intelligence Report

TTF natural gas settled at EUR 42.01/MWh on June 24, consolidating near post-deal-announcement levels as US-Iran peace negotiations enter their second week with uncertain outcome. The June 19 MoU signing was postponed, with talks now extended under a 60-day Vance-Araghchi roadmap. EU storage has risen to 46.4% full, up 3.6pp since June 9, narrowing the deficit vs the 5-year average. GS maintains its 2H26 forecast at EUR 41/MWh and 2027 at EUR 30/MWh, with LNG normalisation pushed to end-July. The base case favors EUR 35 to 45 through H2 2026. FACT