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TTF Extends Decline as EU Push to Ease Crisis

NATURAL GAS

European natural gas extends the decline on the back of the EU emergency plans to tackle the energy crisis. Front month TTF now down 20% from a peak yesterday and 43% from the record high of 339€/MWh in August.

  • Market volatility remains high, made worse by low liquidity, as Europe attempts to increase LNG and reduce demand to balance the missing Russia supplies. TTF aggregate open interest is down nearly 50% from the highs in 2021.
    • TTF OCT 22 down -9.5% at 194€/MWh
    • TTF WIN 22 down -8.6% at 203.5€/MWh
    • TTF SUM 23 down -9.9% at 179.8€/MWh
    • TTF WIN 23 down -9.7% at 167€/MWh

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