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TTF Rises Back Above €40/MWh

NATURAL GAS

Front month TTF is trading slightly higher Thursday but has failed to recover much of the recent sell off over the start of December. Overall downward pressure this month has come from warmer weather outlooks as well as ample supply and high storage levels.

    • TTF JAN 24 up 1.9% at 40.05€/MWh
    • TTF Q1 24 up 1.8% at 40.35€/MWh
    • TTF Q124-TTF Q125 up 0.1€/MWh at -4.48€/MWh
  • Temperatures in NW Europe are forecast to remain above the seasonal norm until mid-December, when it is expected to fall back below the average.
  • LNG flows to Europe were up at 464.3mcm/d on 5 December, up from 422.2mcm/d the day prior.
  • Pipeline supplies into Europe from Norway have rebounded today to 351.7mcm/d, up from 342.8mcm/d yesterday, Gassco data showed.
  • European gas storage was 92.73% full as of 5 December, compared with the five-year average of 83%, GIE data showed.
  • ICE TTF daily aggregate traded futures volumes were yesterday down to 255k.

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