TTF Rallies to Highest Since 1 April

Front month TTF is rallying to the highest since 1 April amid curtailed Norwegian gas supplies ahead of the spring maintenance season starting late April, while LNG supplies are expected to fall this week. A lack of progress in ongoing ceasefire talks has also been supportive.

• TTF MAY 24 up 3.8% at 27.61€/MWh
• TTF Q3 24 up 3.8% at 28.35€/MWh
• TTF WIN 24 up 3.8% at 32.95€/MWh
• TTF SUM 25 up 4.1% at 31.79€/MWh
• Norwegian gas supplies to Europe are nominated today at 326.8mcm/d. Unplanned works at the Asgard field reduced supplies by 12.7mcm/d on 8-9 April, and by 7mcm/d on 9-10 April amid process problems. Planned works at the Gulfaks field reduced supplies by 5.3mcm/d on 8-9 April
• Reuters reporting comments from an unnamed Hamas official claiming that "no progress has yet been made" in the ceasefire talks that are taking place in Cairo. The comments come in contrast to those made by a senior Egyptian official earlier on 8 Apr claiming that there had been some movement towards a ceasefire agreement.
• LNG imports into Europe and Turkey increased to 3.2bcm last week but are estimated to fall to 1.9bcm this week, according to Kpler data, cited by Montel.