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TTF Falls Back After Spike due to Nord Stream Halt

NATURAL GAS

The tight market balance and low liquidity are driving high volatility and large price swings in TTF.

  • Front month spiked back up to 283€/MWh yesterday in reaction to the halt to Nord Stream before trailing off back to 240€/MWh.
    • TTF OCT 22 down -6.5% at 230.01€/MWh
  • Initial trading is lower again today with the expectation that Europe has improved the situation for this coming winter with hopes to implement new LNG FRSU terminals and reduce consumption.
  • Supply is today relatively unchanged from yesterday with flows continuing through Ukraine at 42.4mcm/d and Norwegian supply still curtailed due to maintenance at 278.7mcm/d.
  • Gas Injections are maintaining at a slightly quicker rate than normal despite the missing supply from Russia. European storage has now reached 81.92% with Germany up to 86.1%, Italy to 83.73%, France to 93.26% and the Netherlands to 79.74%.
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The tight market balance and low liquidity are driving high volatility and large price swings in TTF.

  • Front month spiked back up to 283€/MWh yesterday in reaction to the halt to Nord Stream before trailing off back to 240€/MWh.
    • TTF OCT 22 down -6.5% at 230.01€/MWh
  • Initial trading is lower again today with the expectation that Europe has improved the situation for this coming winter with hopes to implement new LNG FRSU terminals and reduce consumption.
  • Supply is today relatively unchanged from yesterday with flows continuing through Ukraine at 42.4mcm/d and Norwegian supply still curtailed due to maintenance at 278.7mcm/d.
  • Gas Injections are maintaining at a slightly quicker rate than normal despite the missing supply from Russia. European storage has now reached 81.92% with Germany up to 86.1%, Italy to 83.73%, France to 93.26% and the Netherlands to 79.74%.