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TTF Rallies Amid Norway Outages and Warm Weather

NATURAL GAS

TTF front month rallies back up from a low of 31.5€/MWh this morning up to 34.5€/MWh with near term supplies still restricted by Norwegian maintenance and amid lower LNG imports this month. The forecast of warm weather for the start of July and possible higher cooler demand is also supportive of prices.

  • The impact of a planned outage at Norway’s Kollsnes processing plant starting on 29 June until 3 July has been increased from 11mcm/day to 39mcm/day with a new outage of 11mcm/d for 3-4 July, according to Gassco.
    • TTF JUL 23 up 8% at 34.52€/MWh
    • TTF WIN 23 up 2.4% at 50.46€/MWh
    • TTF SUM 24 up 2.6% at 50€/MWh
    • TTF WIN 24 up 2.1% at 51.7€/MWh
Energy BulletsCommodities
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