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TTF Climbs to Highest Since Feb. 19

NATURAL GAS

TTF has shrugged off earlier losses to be trading at its highest level since Feb. 19.

Support has come from upcoming maintenance at Norway’s Karsto, slightly cooler weather forecasts, and fears of extended disruption in the Red Sea.

  • TTF MAR 24 up 2.5% at 24.6€/MWh
  • TTF SUM 24 up 2.8% at 25.15€/MWh
  • Planned maintenance at Norway’s Karsto has been brought forward, according to an announcement by Gassco Feb. 27. Maintenance will now start March 11, taking 12.1 mcm/d offline until March 13.
  • Shipping giant Maersk has warned that ongoing disruptions to flows through the Red Sea could drag into H2 2024, causing heavy congestion and delays for US bound goods, according to Reuters. Almost all LNG carriers are now having to take the longer route via the Cape of Good Hope.
Energy BulletsCommodities
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