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TTF Holds Gains Amid Increasing Cooling Demand

NATGAS

TTF is holding onto gains from yesterday supported by higher cooling demand expected next week adding to the market sensitivity over supply risks.

  • Russian drone and missile strikes damaged energy infrastructure across Ukraine again on Thursday, according to the Ukrainian energy ministry.
  • Temperatures across much of Europe are forecast to increase further above normal into next week and are expected to remain warm throughout the two week outlook.
  • Norwegian pipeline supplies to Europe are today nominated at 327.9mcm/d, but still curtailed by capacity reductions at Visund, Karsto, and Troll.
  • European LNG sendout was up slightly to 267mcm/d on June 18 according to Bloomberg but still below an average of 282mcm/d seen last month.
  • Total European stores are up to 74.09% full on June 18 according to GIE compared to the five year seasonal average of 63.65% as below normal net injections continue.
  • Gas transit flows through Ukraine are at 42.4mcm/d today and Algeria gas flow to Italy at Mazara are at 55.2mcm/d.
  • ICE TTF daily aggregate traded futures volume was 250k on June 19.
    • TTF JUL 24 up 0.2% at 35.4€/MWh
    • TTF Q3 24 up 0.3% at 35.97€/MWh
    • TTF WIN 24 up 0.4% at 39.93€/MWh
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