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TTF Rallies to Fresh High for the Week

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TTF front month has rallied to a new high for the week with supply risks from Ukraine adding to competition for LNG supplies from Asia to offset the stable near term European fundamentals.

    • TTF JUN 24 up 1.6% at 30.73€/MWh
    • TTF Q3 24 up 1.4% at 31.44€/MWh
    • TTF WIN 24 up 1.1% at 36.59€/MWh
    • TTF SUM 25 up 1% at 35.15€/MWh
  • Warmer than normal temperatures are forecasts across NW and central Europe throughout the next two weeks, particularly in the UK, northern Germany and Scandinavia, according to Weather Services International.
  • Norwegian pipeline supplies to Europe are today nominated at 320.0mcm/d. Steady outages of 30.4mcm/d this week are expected to rise to a peak of 177mcm/d on May 21.
  • European LNG sendout was steady at 291mcm/d on May 15 and approximately in line with the average seen so far in May.
  • European gas storage injections edged lower but remain near normal this week with total stores 66.06% full on May 15 according to GIE compared to the five year seasonal average of 51.8%.
  • Gas transit flows through Ukraine are at 42.4mcm/d today and Algeria gas flow to Italy at Mazara are at 65.05mcm/d.
  • ICE TTF daily aggregate traded futures volume was at 250k on May 16.
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TTF front month has rallied to a new high for the week with supply risks from Ukraine adding to competition for LNG supplies from Asia to offset the stable near term European fundamentals.

    • TTF JUN 24 up 1.6% at 30.73€/MWh
    • TTF Q3 24 up 1.4% at 31.44€/MWh
    • TTF WIN 24 up 1.1% at 36.59€/MWh
    • TTF SUM 25 up 1% at 35.15€/MWh
  • Warmer than normal temperatures are forecasts across NW and central Europe throughout the next two weeks, particularly in the UK, northern Germany and Scandinavia, according to Weather Services International.
  • Norwegian pipeline supplies to Europe are today nominated at 320.0mcm/d. Steady outages of 30.4mcm/d this week are expected to rise to a peak of 177mcm/d on May 21.
  • European LNG sendout was steady at 291mcm/d on May 15 and approximately in line with the average seen so far in May.
  • European gas storage injections edged lower but remain near normal this week with total stores 66.06% full on May 15 according to GIE compared to the five year seasonal average of 51.8%.
  • Gas transit flows through Ukraine are at 42.4mcm/d today and Algeria gas flow to Italy at Mazara are at 65.05mcm/d.
  • ICE TTF daily aggregate traded futures volume was at 250k on May 16.