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NATURAL GAS: TTF End of Day: Middle East Escalations Adding Support

NATURAL GAS
BulletEnergy BulletsCommodities

European gas markets edge higher as they try to gauge the impact of Middle East escalations on supply security for the region. 

  • TTF NOV 24 up 0.4% at 38.75€/MWh
  • Prices found strength early in the session but pared back with no actual impact on supplies though risks remain.
  • Israeli defense forces said they intercepted an unmanned aerial vehicle that crossed into the country’s offshore economic zone in the Mediterranean, possibly on the way to the Karish gas rig Bloomberg reported.
  • Norwegian flows are recovering from extensive maintenance in recent weeks.
  • Norwegian pipeline supplies to Europe are nominated up to 290.5mcm/d today, according to Bloomberg. Gassco shows outages of 61.2mcm/d today, falling to 41.6mcm/d later this week and to 28.6mcm/d on Oct. 7.
  • Some weather forecasts point to a cold second half of October, adding support.
  • The Netherlands should fill gas storage up to 90% of their capacity, around 11bcm, before winter 2025/2026 to avoid shortages in case a cold winter coincides with low gas availability, grid operator GTS said on Monday.
  • European gas storage is up to 94.18% of capacity on Sep 28, according to GIE, compared to the five-year average of 89.8%.
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European gas markets edge higher as they try to gauge the impact of Middle East escalations on supply security for the region. 

  • TTF NOV 24 up 0.4% at 38.75€/MWh
  • Prices found strength early in the session but pared back with no actual impact on supplies though risks remain.
  • Israeli defense forces said they intercepted an unmanned aerial vehicle that crossed into the country’s offshore economic zone in the Mediterranean, possibly on the way to the Karish gas rig Bloomberg reported.
  • Norwegian flows are recovering from extensive maintenance in recent weeks.
  • Norwegian pipeline supplies to Europe are nominated up to 290.5mcm/d today, according to Bloomberg. Gassco shows outages of 61.2mcm/d today, falling to 41.6mcm/d later this week and to 28.6mcm/d on Oct. 7.
  • Some weather forecasts point to a cold second half of October, adding support.
  • The Netherlands should fill gas storage up to 90% of their capacity, around 11bcm, before winter 2025/2026 to avoid shortages in case a cold winter coincides with low gas availability, grid operator GTS said on Monday.
  • European gas storage is up to 94.18% of capacity on Sep 28, according to GIE, compared to the five-year average of 89.8%.