September 06, 2022 06:56 GMT
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%.