Natural gas prices have declined in Europe.

European natural gas prices have declined in early trading due to ceasefire negotiations in the Black Sea, with the Dutch TTF dropping 1.3% to €41 per megawatt hour. Any progress towards a resolution to end the war in Ukraine raises hopes for a resumption of some Russian gas flows to Europe during a period of low stock levels, putting pressure on prices.

According to the industry group Gas Infrastructure Europe, only 33.9% of EU storage is filled. However, analysts at ANZ Research express skepticism that European buyers will see a significant increase in supplies from Russia. Furthermore, concerns are growing that the EU's ban on the transfer of Russian LNG at EU ports could disrupt winter deliveries from Russia's Yamal LNG.