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TTF Edges Higher on Cooler Weather into December

NATURAL GAS

TTF holding just above close levels as the forecast of colder weather into December boosts heating demand expectations.

    • TTF DEC 22 up 0.6% at 124.5€/MWh
  • Current above normal temperatures will give way to at or below normal across much of Europe into December. Cooler weather is then forecast until the end of the two week outlook.
  • Strong LNG and Norwegian imports and high gas storage levels are limiting the upside price moves on more confidence of supply security during the current winter season. Total LNG imports to Europe averaged 436mcm/d over the week to Nov 22. Norwegian supplies are back up to 337mcm/d after a drop yesterday due to a one day planned outage at Oseberg. Gas supplies flowing via Ukraine are today at nominated at 42.2mcm/d.
  • European gas in storage is at 94.38% according to GIE data from Nov 23 showing Germany at 98.95%, Italy at 93.46%, France at 98.35% and Netherlands at 90.43%.
Energy BulletsCommodities
Energy BulletsCommodities

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