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LONDON (ICIS) –The ICIS TTF October ’22 contract rose to $66.03/MMBtu on 14 September, up almost 11% day on day.

European Commission President Ursula von der Leyen did not include mention of a price cap on energy imports in the state of the union address on 14 September, which may have supported prices.

The ICIS East Asia Index (EAX) also rose in reaction. Von der Leyen said the commission would instead develop “a set of measures that take into account the specific nature of our relationship with suppliers”.

Asian spot demand for October is expected to be weaker and shipping markets remain tight.

European Price...