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TTF Reverses Losses to Trade Higher

NATURAL GAS

TTF front month reversed earlier losses after nearing pre-Mideast conflict lows on Wednesday, as the ongoing cold spell and higher storage withdrawals are weighed against strong near-term supplies and forecasts for milder weather from mid next week.

    • TTF JAN 24 up 1.1% at 41.75€/MWh
    • TTF Q1 24 up 1.2% at 42€/MWh
  • The TTF front month and second month ahead spread has narrowed significantly today before the December contract expiry.
    • TTF 1-2 spread down -0.1€/MWh at -0.5€/MWh
  • Below normal temperatures in NW and central Europe expected until the weekend but are forecast to warm back above normal into next week.
  • European LNG sendout was up again to 477mcm/d on Nov 28 compared to an average for the previous week of 401mcm/d.
  • Norwegian pipeline supplies to Europe are today back up to 352.9mcm/d with the return of Aasta Hansteen and Troll from short term outages.
Energy BulletsCommodities
Energy BulletsCommodities

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