TTF Forward Curve

The live Dutch TTF gas forward curve - front month through M+6 - and whether Europe's gas market is pricing contango or backwardation.

TTF · FRONT MONTHLIVE
76.15€/MWh
The curve is in backwardation - later months (59.66) trade below the front (76.15), a spread of €16.50/MWh.
updated 02:00 CET
Front
76.15
Dec-26
76.25
Jan-27
76.14
Feb-27
75.65
Mar-27
73.84
Apr-27
63.69
May-27
59.66
€/MWh · monthly TTF contracts

A forward curve is a row of prices, not one number. Each point above is a separate TTF contract - gas for delivery in the front month, the month after, and so on out to six months. Read left to right, the curve tells you what the market thinks European gas will cost as the year unfolds, and it is one of the most information-dense pictures in the gas market.

Its shape is the signal. When later months sit above the front - contango - the market is comfortable with prompt supply or is pricing winter demand ahead. When they sit below - backwardation - the prompt is tight and buyers are paying up for gas now. A curve that flips, or steepens, often moves before the headlines do.

Rivex builds the TTF curve from daily contract settlements and tracks how the whole curve shifts over 30 days, alongside the power and carbon forward curves.

See the full picture with a free account
  • ✓The full TTF curve with its 30-day evolution (how the whole curve has moved)
  • ✓Forward curves for power and EUA carbon alongside gas
  • ✓Curve-derived signals: calendar spreads and seasonal shape
  • ✓The gas storage, flows and LNG data behind the curve
  • ✓The AI morning briefing at 07:00 CET, synthesised from 10 official sources
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Frequently asked

What is the TTF forward curve?
The TTF forward curve is the set of prices at which natural gas can be bought today for delivery in future months at the Dutch TTF hub. Each point is a separate traded contract - front month, month+1, month+2 and so on. Together they show what the market expects European gas to cost through the year.
What is contango and backwardation?
When later months trade above the front month, the curve is in contango - typically a well-supplied market, or one pricing in winter demand ahead. When later months trade below the front, it is in backwardation - usually a tight prompt market. The shape is one of the clearest reads on gas-market tightness.
How does Rivex source the TTF forward curve?
Rivex builds the curve from daily settlement data for each monthly TTF contract. A free account adds the full curve, its 30-day evolution (how the whole curve has shifted), and the forward curves for power and carbon alongside it.
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