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TTF Drifts Off Recent Highs Amid Mild Weather Forecast

NATGAS

TTF drifts down from the recent highs over €32/MWh from earlier this week with focus on supply and with mild weather expected across much of Europe.

    • TTF JUN 24 down 1.7% at 30.54€/MWh
    • TTF Q3 24 down 1.9% at 31.03€/MWh
    • TTF WIN 24 down 1.8% at 35.6€/MWh
    • TTF SUM 25 down 0.7% at 34.71€/MWh
  • Norwegian pipeline supplies to Europe are today nominated at 292.2mcm/d as works at Kollsnes, Troll and Visund continue today.
  • European LNG sendout was down again to 274mcm/d on May 6 according to Bloomberg compared to the average so far in May of 297mcm/d.
  • Total European gas storage was 63.81% full on May 6 according to GIE with net injection rates falling on the day. Stores however remain near the five year range high and above the five year seasonal average is 48.8% full.
  • Temperatures in NW Europe are expected to hold above normal throughout the two week forecast after rising in the coming days to a high around May 12.
  • Gas transit flows through Ukraine are at 42.4mcm/d today and Algeria gas flow to Italy at Mazara are at 64.5mcm/d.
  • ICE TTF daily aggregate traded futures volume was down at 285k on May 7.
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