TTF price fell by a massive 15% to below the €100/MWh mark today, their lowest price level since Nord Stream gradually stopped flowing gas and “great” summer price rally started.
Weather is a big factor here, with unseasonably mild temperatures, together with strong winds and some sunshine weighing on gas prices.
And stock levels are standing above average with continued injections -last year we were already drawing on storage at this time.
And of course, healthy LNG inflow is also playing in, especially that scheduled LNG deliveries have limited flex to adjust supply.
What is your view? how long will last the October meltdown? is it structural? can it turn up and down?
Source: Greg Molnar (LinkedIn)