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European gas prices firm as TTF tops EUR 60/MWh
ING says EU gas storage dipped slightly during the injection season to 59.3%, while funds cut net longs in TTF by 16.6 TWh.
INGs Warren Patterson and Ewa Manthey said European gas prices firmed, with TTF pushing back above EUR 60/MWh.
They pointed to storage developments as a counterweight to the price move, noting EU gas storage fell marginally during the injection season, according to Gas Infrastructure Europe.
The pair also flagged ongoing Persian Gulf LNG disruptions as a potential drag on Europes storage trajectory ahead of the 2026/27 heating season.
On positioning, ING cited lagged data showing investment funds trimming their net long in TTF by 16.6 TWh, bringing it to 228.2 TWh over the latest reporting week.