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TTF Edges Lower on Easing Mideast Tensions

NATGAS

Front month TTF is edging lower today amid easing Middle East tensions as Israel pull more soldiers from southern Gaza and appear committed to ceasefire talks, offsetting lower Norwegian pipeline supplies and slightly cooler weather at the end of April.

    • TTF MAY 24 down 0.8% at 26.4€/MWh
    • TTF Q3 24 down 0.9% at 27.09€/MWh
    • TTF WIN 24 down 1.6% at 31.25€/MWh
  • Norwegian pipeline supplies to Europe are down today to 327.7mcm/d due to an unplanned outage at the Asgard field and unavailable capacity at the Gulfaks field.
  • Weather forecasts for NW Europe suggested temperatures well above seasonal normal until mid April before turning colder with temperatures below the five-year average at the end of the two-week forecast period.
  • European gas storage stood at 59.9% of capacity on 6 April, well above the seasonal average of 42.394%, GIE data showed. Net storage injections rose to 2,497GWh/d on 6 April.
  • European LNG sendout including the UK stood at 359.54mcm/d on 4 April.
  • Gas transit flows through Ukraine are at 41.3mcm/d today.

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