# Energy Aspects flags Ukraine's winter gas role as a "big uncertainty" as TTF sits at €103.81/MWh — EnergyReader.io

> Energy Aspects analyst Erisa Pasko said Ukraine's role as a winter gas importer or exporter is a major uncertainty for European gas prices. TTF front-month traded at €103.81/MWh on November 1, up about 5.5% on the session, after European storage started the season at record lows.

- Date: 2026-11-01 · published 2026-11-01T23:41:01.178Z
- Category: macro · region Europe · magnitude medium
- Page: https://feedsoft.ai/events/74240-energy-aspects-flags-ukraine-s-winter-gas-role-as-a-big-uncertainty-as-ttf-sits
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Low European storage and a TTF price above €100/MWh raise the cost of gas-fired power and fertiliser production in Europe, supporting firm energy-linked feed and fertiliser costs into winter.

## Read by commodity

- NATGAS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2018-07-03 | [Gas traders fear US winter price spike - Energy Risk](https://feedsoft.ai/events/64222-gas-traders-fear-us-winter-price-spike-energy-risk.md) | -1.3% | -2.8% |
| NATGAS | 2021-11-01 | [Q&A \| The Role of Liquefied Natural Gas in the US Gas Market - Center on Global Energy Policy at Columbia University SIPA \| CGEP](https://feedsoft.ai/events/44235-q-and-a-the-role-of-liquefied-natural-gas-in-the-us-gas-market-center-on-global.md) | +1.0% | -10.6% |
| NATGAS | 2018-10-16 | [Low US Storage Levels Point to Winter Natural Gas Price Spike Risk - Center on Global Energy Policy at Columbia University SIPA \| CGEP](https://feedsoft.ai/events/62746-low-us-storage-levels-point-to-winter-natural-gas-price-spike-risk-center-on.md) | -2.5% | +19.1% |
| NATGAS | 2021-01-14 | [What the Rally in Gas Prices Tells us about Gas Markets and Energy Security](https://feedsoft.ai/events/49334-what-the-rally-in-gas-prices-tells-us-about-gas-markets-and-energy-security.md) | -10.2% | +55.7% |
| NATGAS | 2017-12-01 | [China's Gas Push Bites as Winter's Arrival Brings Fuel Shortages](https://feedsoft.ai/events/68160-china-s-gas-push-bites-as-winter-s-arrival-brings-fuel-shortages.md) | -8.4% | +8.5% |

## Sources

- energyreader.io: https://energyreader.io/brief/17829

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.