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TTF Falls to Lowest Since Early Oct Amid Healthy Near Term Supply

NATURAL GAS

TTF front month extends the decline to the lowest since Oct 9 on easing winter supply risks with healthy supplies into Europe from Norway and LNG imports while gas in store remains well above normal.

    • TTF DEC 23 down -2.5% at 42.9€/MWh
    • TTF Q1 24 down -2.4% at 44€/MWh
    • TTF SUM 24 down -2.2% at 43.1€/MWh
    • TTF WIN 24 down -2% at 46.9€/MWh
  • Temperatures in NW and central Europe are forecast to remain slightly below normal through the first week of December but the current operational forecast run suggests a return to near normal around Dec 9.
  • European LNG sendout was back up to 432mcm/d on Nov 26 after a dip below 350mcm/d late last week compared to an average of 404mcm/d so far in November.
  • Norwegian pipeline supplies to Europe are today unchanged at 346mcm/d amid corrective maintenance at Aasta Hansteen today but with uncertain duration.
  • European natural gas storage is down to 97.43% full on Nov 26 according to GIE data seasonal five year average is 86.2% with near normal withdrawal rates.
  • Gas transit flows through Ukraine are at 42.4mcm/d today and Algeria gas flow to Italy at Mazara are up to the highest since October at 67.6mcm/d.
  • ICE TTF daily aggregate traded futures volumes were yesterday at 234k.
Energy BulletsCommodities
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