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TTF Finds Further Support Monday

NATGAS

TTF front month is pushing higher Monday. A brief cold spell in Europe and supply uncertainties from lower US exports as well as competition for LNG supplies are adding support.

  • TTF APR 24 up 1.9% at 28.32€/MWh
  • TTF SUM 24 up 2% at 28.5€/MWh
  • TTF WIN 24 up 1.9% at 32.38€/MWh
  • LNG flows to Northwest Europe on March 21 were 183.66 mcm/d, 11% lower than the 30 day average.
  • US liquefied natural gas exports are currently more profitable to Asia in May, June and July according to Bloomberg. The gas price spread between Asia and Europe is $0.77/MMBtu in April.
  • European gas storage was 59% full on March 23 vs the 5-yr seasonal norm of 42% for this time of year according to GIE figures.
  • Norwegian nominated flows to the UK and Northwest Europe terminals at 345.70 mcm/d vs 5-day moving avg 338.74 mcm/d according to Gassco.
Energy BulletsCommodities
Energy BulletsCommodities

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