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Free AccessTTF Extends Losses
TTF front month extends losses, falling to the lowest level since 7 June, amid recovering supplies from Norway, healthy storage levels and a sluggish recovery in European industrial gas demand.
- TTF AUG 23 down -4.2% at 25.5€/MWh
- TTF front month fell to an intra-day low of €25.07/MWh, after opening the session higher.
- Norway’s Troll field with an unavailability of 21.5mcm/d is returning today, after being extended several times. An increased unavailability at the Kollsnes processing plant to 22mcm/d, from first 9mcm/d planned, has offered some upside to prices.
- The recovery of European natural gas demand remains sluggish with industrial gas demand in NW Europe down by 16% yoy in June and 25% below the 2017-2021 average.
- EU gas storage levels stood at 80.31% on 12 July and remain well above the five-year average of 65.6%.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.