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TTF Front Month Falls Below Summer 2024

NATURAL GAS

Front-end of the TTF curve has fallen about $2 in the last month but US Henry Hub natgas and oil-indexation has hardly moved according to ICIS.

  • Despite the bearish near term prices the back of the TTF curve has not moved much with entirely different LNG supply and demand beyond 2026.
  • The TTF front month price and spreads are again slightly softer today with the Feb 2024 - Sum 24 falling into negative territory down at -0.1€/MWh. The Sum 24 – Win 24 spread at -4.5€/MWh and Sum24-Sum25 at -1.3€/MWh.
    • TTF FEB 24 down -0.7% at 31.37€/MWh
    • TTF SUM 24 down -0.6% at 31.49€/MWh
    • TTF WIN 24 down -0.1% at 36.01€/MWh
    • TTF SUM 25 up 0.7% at 32.85€/MWh


Source: ICIS

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