Gas: Market is eagerly watching how ceasefire talks evolve – ING

European natural gas prices rose yesterday with TTF Natural Gas Futures (TTF) settling almost 3.6% higher on the day, ING's commodity experts Ewa Manthey and Warren Patterson note. 

Increased attacks may provide further support to the market

"Colder weather is forecast in Northwest Europe over the coming days, which should support demand. In addition, increased attacks between Russia and Ukraine may provide further support to the market." 

"The market is eagerly watching how ceasefire talks evolve. EU gas storage is a little under 36% full, down from 61% at the same stage last year and below the 5-year average of 47% full."