ANALYSE GAZ EN

03/04/2026 - The TTF 2027 calendar price closed yesterday evening at 40.19 EUR/MWh, down 9.03% on last Thursday. The TTF 2028 calendar price closed higher yesterday evening at 29.10 EUR/MWh.
Gas prices tended to fall during the second half of March, in a volatile market.
There remains significant uncertainty regarding the duration of the conflict and the conditions for the resumption of shipping once it ends. The market currently expects the conflict to end in late April and a gradual resumption of LNG deliveries from the Gulf states.
Gas consumption in Europe could fall, particularly in industry, if prices were to remain at their current levels for an extended period.

The price of oil closed yesterday at $109.03 per barrel, up 0.94% on last Thursday.
The price of oil remains highly volatile, fluctuating in response to news reports. The market is trying to gauge how long the fighting will last and what the situation in the Gulf will be once a ceasefire is in place.
Many Asian countries have introduced restrictions aimed at limiting the consumption of petroleum products whilst seeking to support the most vulnerable consumers.
The European Union is preparing for a protracted conflict and is in turn considering taking specific measures to reduce the consumption of petroleum products.