Free Trial

TTF Gas Lags Direction

NATURAL GAS

TTF front month is trading through yesterday’s low, removing earlier gains, in another volatile trading session. Potential winter risks are weighed against lower demand, high storages, ample supplies, and mild weather outlooks in the short term.

    • TTF DEC 23 down -0.8% at 45.47€/MWh
    • TTF Q1 24 down -1.1% at 46.96€/MWh
  • Temperatures in NW Europe are expected to move above normal over this weekend before falling back to near normal during next week. The forecast shows little sign of significant cold with the last week of the month also expected near to normal. Latest European gas demand figures showed a year-on-year increase in gas demand in October and the first half of November, but still significantly lagging the five-year average.
  • Overall gas supplies to Europe have increased this month. European LNG sendout has dipped slightly this week back to 409mcm/d on 15 Nov compared to a recent high of 453mcm/d on 10 Nov. Norwegian pipeline supply to Europe is unchanged at 339.3mcm/d today compared to an average of 328mcm/d so far this month.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.