天然气：供应缺口抵消温和天气影响，此时大举抛售 TTF 天然气为时尚早-Natural Gas Comment_ Too Early for Large TTF Sell Off With Supply Miss Offsetting Mild Weather

16 December 2025 | 4:30PM EST Commodities Research Natural Gas Comment: Too Early for Large TTF Sell Off With Supply Miss Offsetting Mild Weather TTF has sold off 11% from late November to 26 EUR/MWh, now well into the lignite-to-gas switching range, mainly driven by a combination of headlines on a potential Ukraine peace deal and a warmer-than-average December in NW Europe. We think this sell off is overdone from a fundamental perspective, and we maintain our 29 EUR/MWh 2026 TTF price forecast, for three m ...