The December 2026 Dutch Title Transfer Facility (TTF) futures contract was near EUR 100 per megawatt-hour early Nov. 3, as reports described U.S. strikes on Iranian targets and continuing diplomatic contacts. ICE Endex data placed the contract near that level at 4:01 a.m. ET (09:01 UTC).
FXStreet later said Commerzbank viewed stronger hopes of a diplomatic resolution as easing the geopolitical risk premium on gas. Its account described the Nov. 2 TTF price move as a decline of as much as 10%, citing EUR 104 and EUR 93.5 per MWh. FXStreet also reported Commerzbank’s assessment that unsuccessful peace efforts left prices vulnerable to renewed military escalation, which the bank said could take the market above EUR 100 per MWh.
The Associated Press and Reuters reported U.S. strikes on Iranian targets near the Strait of Hormuz, citing U.S. officials. The Associated Press said the operation had not been publicly announced.
Iran’s foreign minister described mediated consultations with the United States as intensive, Iran’s state media outlet IRNA reported in remarks carried by Reuters. Reuters separately reported that Qatari mediators traveled to Tehran on Nov. 2 after talks in Doha ended without a breakthrough, citing an unnamed official briefed on the talks.
ICE says its Dutch TTF contracts provide for physical delivery at the virtual trading point operated by Gasunie Transport Services. EconoTimes previously covered a Dutch TTF trade above EUR 100 per MWh on Oct. 28.
