UK gas futures fall 5.22%, Dutch TTF drops 8.85% in late European trading

The scale of the move matters more than the direction: an 8.85% single-session slide in TTF is a repricing, not noise, and the fact that carbon permits firmed slightly suggests this is about gas supply and demand rather than a broad energy complex selloff. This affects European power producers, industrial gas consumers and utilities with exposure to front-month contracts. Whether the drop reflects a durable shift in the supply picture or a one-session unwind is the open question, and the divergence between falling gas and steady carbon is worth tracking.