Storage draws have slowed – ING

European natural gas prices also saw plenty of weakness yesterday with TTF settling 3.7% lower on the day, taking prices back below EUR48/MWh, ING’s commodity analysts Warren Patterson and Ewa Manthey note.

Potential transit flows through Ukraine to add pressure

“Talk of potential transit flows through Ukraine (of Azeri gas) will likely be adding pressure. In addition, storage draws have slowed which is likely offering some comfort to the market. EU gas storage is a little under 56% full at the moment, down from 72% at the same stage last year and below the five-year average of 63%.”