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JKM-TTF Spread Increases to Highest Since 16 Feb

NATURAL GAS

Ongoing weakness in the TTF prices has driven front month JKM-TTF spread to the highest since 16 Feb earlier today up at 1.28$/mmbtu.

  • The US netback to Europe for April is down to 9.22$/mmbtu and has fallen back below the netback to Asia which is still at 9.87$/mmbtu according to Bloomberg data.
  • Northeast Asian spot LNG prices are also drifting lower with warm weather in the region limiting buying interest. LNG imports into Europe increased up to a near record of 524mcm/d to cover the recent period of cooler weather but dipped back down to 441mcm/d on 6 Mar.
    • TTF APR 23 down -2.1% at 41.45€/MWh
    • NBP APR 23 down -2.6% at 104.06p/th
    • JKM Apr 23 down -0.3% at 13.9$/mmbtu
    • JKM-TTF Apr 23 up 0.1$/mmbtu at 1.07$/mmbtu
    • US Natgas APR 23 up 3% at 2.63$/mmbtu
Energy BulletsCommodities
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