November 11, 2022 07:50 GMT
TTF Opens Lower on Easing Winter Supply Risks
TTF front month falls after a relatively stable week with warm temperatures in Europe easing concerns for supply disruption and EU energy rationing this winter.
- TTF DEC 22 down -5.5% at 107.25€/MWh
- The two week weather forecast for NE Europe is relatively unchanged from yesterday with above normal temperatures expected until about Nov 17 with the chance of cooling back towards normal beyond.
- Planned and unplanned works at Oseberg continue to restrict capacity keeping Norwegian supplies down at 314.4mcm/d while gas flows through Ukraine remain unchanged at 42.2mcm/d.
- The warm weather is helping maintain gas in store with Europe total levels still up at 95.35% on Nov 9 while LNG supplies into Europe are this week up at around 425mcm/d.