TTF drops below €30/MWh as geopolitical risk premium fades

Tuesday, 25 November 2025

European wholesale gas prices fell below €30 per MWh on Monday, a level not seen since February 2024, as expectations for a Ukraine peace deal put bearish pressure on prices. The Dec-2025 TTF contract also slipped below this threshold amid hopes that the EU’s proposed ban on Russian pipeline gas could be softened.


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