TTF plummeted over 8% in the first half of Thursday's trading as EU members states met to debate terminating the bloc's gas storage targets after TTF extended its two-week rally over $17/MMBtu through Oct '25.
Dutch TTF hits a two-year rolling prompt-month high of $16.482/MMBtu as European gas markets test the limits of the bloc's supply-side fears
Reactive supply fears boost prompt-month TTF to highest close of the year as EU gas inventories fall below 55% full before Feb 1
Europe's gas supply fears escalate after the largest week-on-week draw on EU natural gas inventories since February 2021 despite relatively mild weather.
A closer look at fund managers' energy market futures and options positioning
The Jan 1 expiration of the US debt ceiling suspension enacted under the Fiscal Responsibility Act of 2023 leaves the Treasury Department with just one to two weeks until the US reaches its new debt limit.
Russian gas flows through Ukraine halted on Jan 1, pulling more supplies from Western Europe.
Russian gas flows through Ukraine are due to halt on Jan 1 with the expiration of the Gazprom-Ukraine transit agreement.
The EU’s gas inventories have fallen at the fastest pace since 2016 as low winds and the first colder-than-normal winter since the beginning of the Russia-Ukraine conflict envelope the bloc.
