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TTF Extends Gains

NATURAL GAS

TTF is extending gains throughout the session to the highest level since 3 November driven by cooler weather toward the end of this week and end of next week.

  • TTF DEC 23 up 3.8% at 47.53€/MWh
  • TTF Q1 24 up 3.8% at 49.16€/MWh
  • The latest weather forecast for NW Europe shows above normal temperatures next week after a brief cold spell into this weekend. The forecast for the second week of the outlook is looking cooler with potential for temperatures to dip to near of just below normal.
  • Markets are also watching global LNG supply disruptions given the likely ongoing maintenance at Qatar’s LNG facilities and the outage at one train of Chevron’s Gorgon LNG facility in Australia that led to a cancelled cargo for November.

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