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TTF Resumes Pull Back With Physical Flows Unchanged

NATURAL GAS

TTF falls back negative on the day to extend the correction from the price spike mid last week.

  • European fundamental gas flows remain largely unchanged as the market waits for any further news regarding the potential disruption to Australian LNG exports due to possible worker strike action.
  • Daily traded volumes have returned to more normal levels around 201k contracts on 11 Aug after seeing a significant increase up to 541k on 9 Aug in reaction to the news of the potential strikes.
  • Time spreads are edging back up with Q1 24-Sep 23 up to 17.9€/MWh and Win 24- Win 23 up to 5.05€/MWh.
    • TTF SEP 23 down -3.2% at 34.16€/MWh
    • TTF WIN 23 down -0.5% at 48.79€/MWh
    • TTF SUM 24 up 0.6% at 50.5€/MWh
    • TTF WIN 24 up 0.3% at 53.83€/MWh

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