TTF gas prices have fallen about 25% since the beginning of February. Due to "peace negotiations" between Trump and Putin, speculative investors reduced their long positions. The escalation between Trump and Zelensky caused a price recovery. Shell's LNG Outlook 2025 expects an increase in both LNG supply and demand toward 2030. This could lead to a continued shortage in Europe and (continued) dependence on the U.S.
OPEC+ maintains previously announced phase-out of production cuts, which will increase supply in the oil market from April. US sanctions against Iran and Venezuela earlier actually caused supply reductions. Moreover, the talks between the US, Russia and Saudi Arabia are centered on "dividing" the oil market. In doing so, the US wants to avoid both too high and too low oil prices.
