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TTFS Edges Higher on Cooler December Temperatures

NATURAL GAS

TTF front month extends gains on the back of colder weather expected in NW Europe into the start of December. The cooler weather could start to increase withdrawals from storage which have held much higher than normal due to the warm start to winter.

    • TTF JAN 23 up 0.6% at 137€/MWh
  • The latest updated forecast shows temperatures in NW Europe falling below normal from Dec 1 onwards and likely to stay slightly below throughout most of the two week forecast period.
  • European storage levels are still up at 93.62% full compared to the five year average of 83.2% at this time of year.
  • Norwegian gas supplies are today nominated at 331.9mcm/d despite several small outages including at Troll and Karsto.
  • LNG supplies are still strong with net import flows estimated at 442mcm/d on Nov 27. Gas transit via Ukraine is stable at 42.4mcm/d.
Energy BulletsCommodities
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