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NATGAS: Mid-Day Gas Summary: TTF Holding Gains

NATGAS
Energy BulletsBulletPower BulletsCommodities

TTF front month has been holding onto gains this morning as oil prices rose in reaction to US trade tariffs.  US President Trump again threatened the EU with tariffs. Concerns for low storage and cool temperatures in early Feb are supporting prices.

  • TTF MAR 25 up 1.3% at 53.95€/MWh
  • Temperatures in NW Europe are forecast near normal in the coming days although could dip below normal towards the weekend and into next week. A slight pick up in wind generation from the current low levels is expected.
  • Norwegian pipeline supplies to Europe are still slightly below normal today nominated at 326.2mcm/d, according to Bloomberg. Gassco shows capacity reductions totalling 10.85mcm/d this week until Feb. 9.
  • European gas storage fell to 53.11% full on Feb. 1, according to GIE, compared to the previous five-year average of 60.1%. Net withdrawal rates increased late last week back to near normal levels for the time of year.
  • The Astrakhan gas processing plant in Russia had suspended operations prior to the overnight Ukrainian drone strike its governor said on Monday.
  • Some European members missed the gas storage targets for February set by the European Commission, as below normal stores and summer refill concerns continue to support TTF prices.
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TTF front month has been holding onto gains this morning as oil prices rose in reaction to US trade tariffs.  US President Trump again threatened the EU with tariffs. Concerns for low storage and cool temperatures in early Feb are supporting prices.

  • TTF MAR 25 up 1.3% at 53.95€/MWh
  • Temperatures in NW Europe are forecast near normal in the coming days although could dip below normal towards the weekend and into next week. A slight pick up in wind generation from the current low levels is expected.
  • Norwegian pipeline supplies to Europe are still slightly below normal today nominated at 326.2mcm/d, according to Bloomberg. Gassco shows capacity reductions totalling 10.85mcm/d this week until Feb. 9.
  • European gas storage fell to 53.11% full on Feb. 1, according to GIE, compared to the previous five-year average of 60.1%. Net withdrawal rates increased late last week back to near normal levels for the time of year.
  • The Astrakhan gas processing plant in Russia had suspended operations prior to the overnight Ukrainian drone strike its governor said on Monday.
  • Some European members missed the gas storage targets for February set by the European Commission, as below normal stores and summer refill concerns continue to support TTF prices.