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TTF Continues Pull Back With No Escalation in Geopolitical Tensions

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Energy BulletsCommodities

TTF front month continues to pull back from a peak of nearly 34€/MWh last week amid easing geopolitical risk premium with no further escalation of tensions between Israel and Iran.

    • TTF MAY 24 down 0.9% at 29.05€/MWh
    • TTF Q3 24 down 1.2% at 29.6€/MWh
    • TTF WIN 24 down 1.2% at 34.25€/MWh
    • TTF SUM 25 down 0.5% at 32.08€/MWh
  • Colder than normal temperatures are still expected across Europe in the coming days but are forecast to rebound back above normal in NW and central Europe into next week and for the remainder of the two week outlook.
  • Norwegian pipeline supplies to Europe are today nominated down to 330.1mcm/d amid planned maintenance at Dvalin and Karsto today. Supply could fall further in the coming days with the start of more planned seasonal maintenance.
  • European LNG sendout was back up to 330mcm/d on April 21 having dipped down to 303mcm/d late last week.
  • European gas storage has remained almost unchanged since April 16 and at 62.12% full on Apr. 21 according to GIE but remains above the previous five year range and the seasonal five year average of 44.4%.
  • Gas transit flows through Ukraine are at 42.4mcm/d today and Algeria gas flow to Italy at Mazara are at 71.4mcm/d.
  • ICE TTF daily aggregate traded futures volume was down at 252k on Apr. 22.
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TTF front month continues to pull back from a peak of nearly 34€/MWh last week amid easing geopolitical risk premium with no further escalation of tensions between Israel and Iran.

    • TTF MAY 24 down 0.9% at 29.05€/MWh
    • TTF Q3 24 down 1.2% at 29.6€/MWh
    • TTF WIN 24 down 1.2% at 34.25€/MWh
    • TTF SUM 25 down 0.5% at 32.08€/MWh
  • Colder than normal temperatures are still expected across Europe in the coming days but are forecast to rebound back above normal in NW and central Europe into next week and for the remainder of the two week outlook.
  • Norwegian pipeline supplies to Europe are today nominated down to 330.1mcm/d amid planned maintenance at Dvalin and Karsto today. Supply could fall further in the coming days with the start of more planned seasonal maintenance.
  • European LNG sendout was back up to 330mcm/d on April 21 having dipped down to 303mcm/d late last week.
  • European gas storage has remained almost unchanged since April 16 and at 62.12% full on Apr. 21 according to GIE but remains above the previous five year range and the seasonal five year average of 44.4%.
  • Gas transit flows through Ukraine are at 42.4mcm/d today and Algeria gas flow to Italy at Mazara are at 71.4mcm/d.
  • ICE TTF daily aggregate traded futures volume was down at 252k on Apr. 22.