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TTF Gains With Warm Weather Forecast and Tight Supplies

NATURAL GAS

TTF is recovering some ground from yesterday with warming weather in NW and central Europe after the first week of July expected to boost cooling demand despite healthy storage.

  • Front month has recovered from a low of 33.25€/MWH earlier today.
  • Norwegian outages continue with maintenance at Nyhamna, Aasta Hansteen, Ormen Lange and Troll among the capacity reductions still this week.
  • A drop in LNG imports to 300mcm/d is also supportive with sendout back below levels seen this time last year.
    • TTF AUG 23 up 4.4% at 35.43€/MWh
    • TTF WIN 23 up 3.8% at 51.33€/MWh
    • TTF SUM 24 up 3.6% at 51€/MWh
    • TTF WIN 24 up 3% at 53.15€/MWh

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