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    TTF up a further 8% early Dec 21

Summary

As of 10:00 GMT, the contract was trading at €158.76/MWh, versus €146.9/MWh in the previous trading session.

by: Joseph Murphy

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TTF up a further 8% early Dec 21

The January future contract at the Dutch TTF gas hub jumped by a further 8% during early trading on December 21, following a dip in Russian gas flow via the Yamal-Europe pipeline and the arrival of colder weather across the continent.

As of 10:00 GMT, the contract was trading at €158.76 ($179.40)/MWh, versus €146.9/MWh in the previous trading session. The contract has been on a steep upwards trajectory for much of this month, amid Russian supply constraints, accelerated storage withdrawals, escalating tensions between Moscow and Kyiv and an outage at Norway's largest gas field.

Gas storage facilities in the EU and the UK are currently only 59.6% full – a record low level for this time of year.