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TTF Higher Amid Concern Heating Demand

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TTF is pushing up towards the highs from last week of 49.185€/MWh driven by the threat of an increases in demand due to slightly cooler weather later this month.

    • TTF DEC 23 up 1.2% at 48.2€/MWh
    • TTF Q1 24 up 1.1% at 49.84€/MWh
    • TTF SUM 24 up 0.9% at 48.2€/MWh
  • NW and central Europe are expecting temperatures to drop at the end of this week followed by a slight recovery back above normal but with temperatures generally closer to normal in the last week of the month.
  • European LNG sendout has increased in early November up from around 360mcm/d at the start of the month to average 440mcm/d in recent days.
  • Norwegian pipeline supply to Europe is today almost unchanged from yesterday at 337.4mcm/d with an outage at Oseberg amid process problems and with uncertain duration.
  • European natural gas storage was back up to 99.42% full on Nov 12 according to GIE data after small net withdrawals yesterday and compared to the five year average of 89.4%.
  • Gas transit flows through Ukraine are at 42.4mcm/d today and Algeria gas flow to Italy at Mazara are today at 54.0mcm/d.
  • ICE TTF daily aggregate traded futures volumes were at 222k yesterday.
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TTF is pushing up towards the highs from last week of 49.185€/MWh driven by the threat of an increases in demand due to slightly cooler weather later this month.

    • TTF DEC 23 up 1.2% at 48.2€/MWh
    • TTF Q1 24 up 1.1% at 49.84€/MWh
    • TTF SUM 24 up 0.9% at 48.2€/MWh
  • NW and central Europe are expecting temperatures to drop at the end of this week followed by a slight recovery back above normal but with temperatures generally closer to normal in the last week of the month.
  • European LNG sendout has increased in early November up from around 360mcm/d at the start of the month to average 440mcm/d in recent days.
  • Norwegian pipeline supply to Europe is today almost unchanged from yesterday at 337.4mcm/d with an outage at Oseberg amid process problems and with uncertain duration.
  • European natural gas storage was back up to 99.42% full on Nov 12 according to GIE data after small net withdrawals yesterday and compared to the five year average of 89.4%.
  • Gas transit flows through Ukraine are at 42.4mcm/d today and Algeria gas flow to Italy at Mazara are today at 54.0mcm/d.
  • ICE TTF daily aggregate traded futures volumes were at 222k yesterday.