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TTF Rebounds on Storage Withdrawals, Weather

NATURAL GAS

TTF front month has rebounded from an earlier low of €41.40/MWh to trade slightly higher on the day amid higher-than-normal storage withdrawals due to the ongoing cold snap, offsetting overall lower demand, healthy near-term supplies and high storage levels.

    • TTF DEC 23 up 0.6% at 43.04€/MWh
    • TTF Q1 24 up 0.7% at 44.15€/MWh
    • TTF SUM 24 down 0% at 42.99€/MWh
  • EU gas storage withdrawals have risen to 4,895GWh/d on 27 November, compared with the five-year average of 3,371GWh/d.
  • Temperatures in NW and central Europe are forecast to remain slightly below normal into the start of December before warmer weather pushes temperatures back above normal into next week.

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