Free Trial

TTF Falls Again with Mild Weather Until Month End

NATURAL GAS

TTF front month is down again to the lowest since mid July with mild weather, high storage and steady supply still weighing on prices.

    • TTF MAR 24 down -1.5% at 25.06€/MWh
    • TTF SUM 24 down -1.5% at 25.75€/MWh
    • TTF WIN 24 down -0.8% at 29.81€/MWh
    • TTF SUM 25 down -0.8% at 27.75€/MWh
  • The latest weather forecast still shows warm temperatures this week but NW and central Europe are seeing a slight cooling trend into next week back towards normal in the last week of the month.
  • European natural gas storage levels are at the previous five year range highs at 66.58% full on Feb 12 according to GIE data compared to the seasonal five year average of 51.3%. Net withdrawals rose on Jan 12 but rates remain below normal.
  • Norwegian pipeline supplies to Europe are relatively unchanged during this week and nominated at 344.3mcm/d today.
  • European LNG sendout was up at the highest so far this month at 345mcm/d on Feb 12 but still below an average of 386mcm/d seen in Jan.
  • Gas transit flows through Ukraine are at 42.4mcm/d today and Algeria gas flow to Italy at Mazara is today at 44.6cm/d.
  • ICE TTF daily aggregate traded futures volume was at 303k yesterday.

To read the full story

Close

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.