by Eurolng.com Staff
TTF weekly review: 2–7 November 2026
ICE Dutch TTF front-month: sharp decline from above €100/MWh toward the €85–86/MWh zone
Over the past week Europe’s natural gas benchmark TTF (ICE Dutch TTF Natural Gas front-month) corrected sharply lower. After peaking near €103–104/MWh at the start of November, prices settled in the €85–86/MWh area by 6–7 November. The weekly decline was about 17–18%.
1. Price dynamics
| Date | Close, €/MWh | Change |
|---|---|---|
| 2 November 2026 | ~94.9 | −7–8% vs 1 Nov |
| 3 November 2026 | ~91.6 | lower |
| 4 November 2026 | ~88.1 | lower |
| 5 November 2026 | ~90.7 | bounce |
| 6 November 2026 | ~85.6 | −5–6% |
| 7 November 2026 (indicative) | ~85–86 | stabilisation |
Source: ICE Endex / market summaries (front-month closes). Figures rounded; exact settlements may vary slightly by source.
2. What drove the market
Correction after the October rally. At the end of October and start of November TTF traded near local yearly highs (above €100/MWh). The week brought profit-taking and a reassessment of risks on milder weather outlooks and adequate European storage levels.
Volatility. Intraday ranges remained wide (tens of euros per MWh), typical for the current season amid high uncertainty over LNG supply and geopolitics.
Supply context. The market continues to price in constraints on Qatari and Middle East LNG, as well as the approaching ban on Russian LNG from 1 January 2027. Spot cargoes and US exports partly offset the shortfall, allowing prices to retreat from peaks when short-term balances improve.
3. Implications for ssLNG buyers
Small-scale LNG price formulas (TTF front-month + premium + logistics) move directly with the benchmark. The drop from above €100 to the €85–86/MWh zone reduces the base molecule cost for industrial and transport customers, though the premium for full-tanker delivery and access to Baltic / NW European terminals remains a separate factor.
For buyers on formulas linked to the average TTF of the delivery month, the current correction lowers the expected November–December price versus the early-month peaks. Volatility persists — fixing volumes and timing remains the preferred approach.
4. Bottom line
The week of 2–7 November 2026 was marked by a TTF correction: from around €103–104/MWh down to the €85–86/MWh zone (−17–18%). The market remains volatile amid LNG supply constraints and seasonal demand. For the ssLNG segment this means a more comfortable base molecule price than at the start of November, while logistics and slot-access premiums stay in place.
Sources: ICE Endex Dutch TTF Natural Gas Futures; market summaries (oilpriceapi, Investing.com, MarketWatch), 2–7 November 2026. Figures are indicative.