Rabobank Raises TTF Price Forecast Amid Hormuz Disruptions

Rabobank's energy research arm has increased its forecast for the TTF (Title Transfer Facility) natural gas price, citing prolonged disruptions to Hormuz flows and slower recovery of Qatari LNG supply.

The bank now predicts a price of €72/MWh for Q4 2026, up from previous forecasts. This is due in part to low European storage levels and increased reliance on liquefied natural gas (LNG) imports.

While Rabobank still expects prices to ease to the mid-€40s in 2027, it warns that further infrastructure curtailments could drive prices back into the €50-60/MWh range for much of next year.