Following the US-Russia talks regarding Ukraine, prices in the European natural gas market have decreased.

European natural gas prices have declined as traders await the results of nearly 12 hours of discussions between U.S. and Russian officials in Saudi Arabia. The Dutch TTF, the benchmark for European natural gas, saw next month's futures contracts drop by 1.0% to €42.30 per megawatt hour.

According to TASS, the U.S. and Russia are expected to make an announcement today regarding the talks held in Saudi Arabia. Gas traders are closely monitoring ceasefire steps pushed by President Donald Trump, speculating that a ceasefire could lead to a small return of Russian gas to Europe. As winter approaches, Europe is facing lower-than-normal stock levels and challenging storage season expectations. The flow of gas through pipelines from Russia has ceased since early January, following the expiration of a transit agreement, resulting in a significant reduction in fuel supplies from its former largest supplier. The EU's gas storage level stands at 34.01%, with Germany at 29.08%, France at 22.47%, Italy at 43.99%, and the Netherlands at 21.69%.