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TTF Falls Back as Cooler Weather Looks Short Lived

NATURAL GAS

TTF reverses earlier gains with high storage and steady supplies despite the upcoming cooler weather next week. The cooler weather looks to be fairly short lived with temperatures in NW Europe edging back to or above normal from 21 Jan.

  • The Sum23 and Win23 contracts remain above front month with concern for the ability to replenish EU stock levels during the upcoming summer. Supplies into Europe are likely to be tight with limited Russian supplies and potential for higher LNG demand from China. The potential for higher storage levels at the end of the current winter due to the warm weather has helped ease some of the future tight supply concerns.
    • TTF FEB 23 down -4.5% at 63.81€/MWh
    • TTF SUM 23 down -4.6% at 66.5€/MWh
    • TTF WIN 23 down -4.4% at 72.25€/MWh
    • TTF SUM 24 down -2.6% at 64€/MWh
    • TTF WIN 24 down -3.1% at 63.5€/MWh
Energy BulletsCommodities
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