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TTF Plunges to 3-Week Low on Healthy Supplies, Storages

NATURAL GAS

The TTF front month fell to the lowest level since 19 July amid an increase in LNG supplies, pipeline flows from Norway as plants return from maintenance as well as healthy storage levels well above the five-year average.

  • TTF front month touched a daily low of €30.83/MWh, the lowest level since 19 June when prices fell to €30.17/MWh.
  • TTF AUG 23 down -7.7% at 30.9€/MWh
  • EU gas storage levels stood at 79.45% of capacity on 8 July, AGSI data showed.
  • Prices also received some downward pressure from higher renewables output. Wind output in Germany has been significantly revised upwards. Wind output is expected to peak above 30GW on 18 July.

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