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TTF Edges Higher on Mixed Weather and Steady Supplies

NATURAL GAS

European gas is edging higher as increased demand is expected due to the current cooler weather. Temperatures are expected to move back above normal later this week but could dip colder at the end of the month.

    • TTF DEC 22 up 0.8% at 117€/MWh
    • TTF SUM 23 up 1.2% at 125€/MWh
  • Strong LNG imports, steady Norwegian supplies and high storage levels have helped to limit upside moves but prices are still over three times higher than the five year average levels. EU Energy Ministers are due to meet on Nov 24 with the aim to progress measures to limit market spikes including joint gas purchases and a gas price cap mechanism.
  • Norwegian supplies are today nominated at 319mcm/d, LNG imports were up at 438mcm/d on Nov 19 and gas flows through Ukraine are steady at 42.9mcm/d.
  • European gas in storage is at 95.04% according to GIE data from Nov 20 showing Germany at 99.55%, Italy at 94.33%, France at 98.95% and Netherlands at 91.13%.
Energy BulletsCommodities
Energy BulletsCommodities

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