Natural gas: Storage worries with TTF higher – ING
ING’s Warren Patterson and Ewa Manthey highlight that European gas prices have firmed, with TTF above EUR 60/MWh, even as positioning data show funds trimming net longs.
ING analysts Warren Patterson and Ewa Manthey have pointed out that European gas prices have risen, with the TTF above EUR 60/MWh, even as recent positioning data shows investment funds reducing net longs. During the gas injection season, European gas storage levels have dipped slightly, and ongoing disruptions in the Persian Gulf's LNG supply raise concerns about Europe's storage outlook before the 2026/27 heating season.
Despite the reduction in net longs, worries persist over Europe's gas storage situation as the region approaches the heating season. According to Gas Infrastructure Europe's latest data, EU storage dropped by 0.01 percentage points to 59.32%. While this decline is minor, it signals a potential issue for Europe during the gas injection period.
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