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TTF Falls on Easing Demand Fears as EU Ministers Meet

NATURAL GAS

TTF continues to fall as warm start eases short term demand fears and as the EU meet again in an attempt to further emergency energy plans.

    • TTF NOV 22 down -5.7% at 93.5€/MWh
  • Temperatures in NW Europe are well above normal for the coming week and stay warm well into November despite cooling slightly at the end of the two-week period. The warm weather has allowed storage levels to increase up to 93.61% as at Oct 23 compared to the five-year average around 89% before the start of the heating season.
  • EU Energy Ministers are meeting today to continue discussion of more emergency measures including joint gas purchases and a temporary dynamic gas price corridor. EU efforts earlier this year helped bring prices down over 70% from the peak in August.
  • Norwegian supply is nominated slightly lower today at 316.1mcm/d while gas transit via Ukraine is steady at 42.4mcm/d.
Energy BulletsCommodities
Energy BulletsCommodities

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