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AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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TTF Extends Decline to Lowest Since May 2021

NATURAL GAS

TTF front month is at the lowest since May 2021 after a net fall again this week with warm weather and high storage weighing on prices.

    • TTF MAR 24 down -1.3% at 22.89€/MWh
    • TTF SUM 24 down -1.3% at 23.46€/MWh
    • TTF WIN 24 down -0.8% at 28.27€/MWh
  • Temperatures in NW Europe are expected to cool this weekend before edging higher during next week to remain above normal throughout to the two week forecast. Much of Eastern Europe is expecting unseasonably warm temperatures over the next week.
  • Norwegian pipeline supplies to Europe are today nominated almost unchanged on the day at 339.8mcm/d amid the ongoing planned capacity reduction of 12.1mcm/d at Karsto until April.
  • European gas storage was up at 64.69% full on Feb 21 according to GIE data compared to the seasonal five year average of 48.0% after below normal withdrawals since Jan 18.
  • European LNG sendout was at 379mcm/d on Feb 21 according to Bloomberg after reaching the highest since Jan. 18 at 402mcm/d the previous day.
  • Gas transit flows through Ukraine are at 42.4mcm/d today and Algeria gas flow to Italy at Mazara is today at 45.5m/d.
  • ICE TTF daily aggregate traded futures volume was yesterday at 265k.
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