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Strong LNG Backdrop Softening TTF

NATURAL GAS

TTF is sinking lower Monday as LNG shipments into Europe remain strong – hitting record highs - and signs that cold weather forecasts are easing next week.

  • Prices are dropping against a backdrop of a cold blast across Europe – the first real test for Europe without access to Russian piped flows.
  • European gas storage has fallen back to 88% - well above usual but quickly slipping back during the cold snap.
  • TTF JAN 23 down -7.5% at 128.7€/MWh

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