NATGAS: TTF Rebounds on Possible Iranian Attack on Israel

Front month TTF is rebounding but remained within today’s range after headlines suggested Israel is preparing for an attack from Iran in the next days. European gas prices rallied yesterday after reports of Russian attacks on two Ukrainian gas storage sites, cooler weather and a drop in feedgas flows to the US Freeport terminal.

• TTF MAY 24 up 1.4% at 29.8€/MWh
• TTF Q3 24 up 1.2% at 30.57€/MWh
• TTF WIN 24 up 1% at 35.52€/MWh
• US Officials Say Iran Retaliation Towards Israel Could Be Immminent: CBS news reporting that "Two U.S. officials told CBS News that a major Iranian attack against Israel was expected as soon as Friday, possibly to include more than 100 drones and dozens of missiles aimed at military targets inside the country." The expectation of an Iranian-organised attack on Israel or Israeli sites in the Middle East in response to a strike on an Iranian consular building in Damascus on 1 Apr has seen regional geopolitical tensions spike dramatically over the past two weeks.