European benchmark natural-gas futures slid to about €31 per megawatt-hour on 19 August, the lowest level in 13 months and roughly 21 percent below where they began the year. Traders cited progress in cease-fire negotiations led by US President Donald Trump and the prospect that a peace deal could allow a limited resumption of Russian flows to the bloc. Ample inventories reinforced the downward pressure. Storage sites across the European Union were 74.8 percent full, with Italy at 86.4 percent, France 83.0 percent and Germany 67.7 percent, well above seasonal norms and leaving the region comfortably placed ahead of winter demand. The market reversed course later in the week. By the close on 22 August the Dutch TTF contract had booked its first weekly rise in three weeks as optimism over a swift Ukraine settlement ebbed and unplanned maintenance at Norwegian fields curbed supply. The rally helped drive the spread between French and German power prices to its widest since March. Analysts expect volatility to persist, with prices likely to swing on the pace of diplomacy, unexpected outages in Norway and the rate at which European utilities continue to refill storage ahead of the heating season.