TTF Surges Towards Recent Highs on Iran Strike Reports

TTF front month surged towards the high from earlier this week near €34/MWh before easing back following reports that Israel has launched strikes on Iran in response to last weekend's missile attacks.

• TTF MAY 24 up 1.9% at 32.92€/MWh
• TTF Q3 24 up 2.1% at 33.5€/MWh
• TTF WIN 24 up 1.9% at 38.1€/MWh
• TTF SUM 25 up 1.3% at 35.13€/MWh
• US officials have reportedly confirmed that a strike has taken place according to Bloomberg but details are still limited. There are reports of explosions in the Iran city of Isfahan, while Fox news notes that the strike was limited in scope and didn't involve manned aircraft.
• Iranian related headlines suggest there was no missile attack, but that reports of explosions were the activation of the country's air defence system with three drones observed in the sky and nuclear facilities are unharmed.
• Norwegian pipeline supplies to Europe are at 336.5mcm/d today but are still restricted slightly by small capacity reductions at Karsto, Ormen Lange and Gulfaks today.
• Colder than normal temperatures are expected in NW and central Europe in the coming week before rising back to normal for the last couple of days of the month.
• European LNG sendout was stable at 349mcm/d on Apr. 17 compared to an average of 336mcm/d so far in April.
• European gas storage was up to 62.06% full on Apr. 17 according to GIE compared to the seasonal five year average of 43.4% with little change in total stock levels on the day.
• Gas transit flows through Ukraine are at 42.4mcm/d today and Algeria gas flow to Italy at Mazara are at 69.1mcm/d.
• ICE TTF daily aggregate traded futures volume was 382k on Apr. 17.