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TTF Edges Lower but Holding Above Recent Lows

NATURAL GAS

Front month TTF is down again today but holding above the lows around 24€/MWh seen a couple of times in recent days with low demand, steady supplies and high storage still weighing on prices.

    • TTF JUL 23 down -2.4% at 24.64€/MWh
    • TTF WIN 23 down -1.1% at 41.25€/MWh
  • European LNG net import flows were just below 440mcm/d on 29 May and roughly in line with the average seen during May with strong supplies assisted by muted demand in Asia.
  • Imports from Norway are today down to 218.4mcm/d due to ongoing maintenance at numerous fields and processing plants which is expected to continue into mid June.
  • Temperatures in central and NW Europe are expected to stay just above normal throughout early June with solar output in Germany just below the record level reached on 28 May.
  • European gas storage is up 68.37% full on 29 May according to GIE data compared to the five year average of 50.4% with injection rates at about 86% of normal during May.
  • Gas transit flows through Ukraine are today at 40.5mcm/d and Algeria gas flow to Italy at Mazara are down at 29.2mcm/d due to scheduled works.
Energy BulletsCommodities
Energy BulletsCommodities

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