The temper on the European gasoline market stays nervous: the following futures contract for the reference worth TTF is now buying and selling 5% larger than Tuesday’s low, Commerzbank’s commodity analyst Barbara Lambrecht notes.
Two thirds of the gasoline storage facility in Breitbrunn stays empty
“EU storage services have lately been crammed quicker than in earlier years and that the hole to the 5-year common has subsequently narrowed. A lot for the excellent news. Nonetheless, it’s going to most likely nonetheless take a number of effort to fill the storage services by the beginning of subsequent winter.”
“That is notably true in Germany, the place the filling stage is at the moment solely 44% in response to the GIE (whereas the EU as an entire has already reached a filling stage of 52%). The information that the operator of what it claims to be the third-largest gasoline storage facility in Germany has as soon as once more didn’t discover a bidder for extra gasoline storage capability has now brought on concern.”
“Because of this c. The operator had already introduced that the vital filling stage of 80% as of 1 November may not be achieved because of the gradual injection fee for technical causes. This yr’s refilling part will subsequently not be a stroll within the park.”
