UK Gas Futures Up 2.04%, Dutch TTF Gains 4.06% in Late European Trading

The divergence between gas and carbon is the notable signal here: a sharp move in TTF alongside a softer carbon allowance suggests the buying is being driven by something other than a straightforward shift in the emissions-cost backdrop. Because these are front-month futures in late-session trading, the move may reflect positioning or thin liquidity rather than a durable repricing, and it says little on its own about the underlying supply-demand balance. Whether carbon re-couples with gas in the following sessions is the open question.