The Apr’25 TTF futures contract fell to its lowest level in five months this week, declining from €47.40/MWh on 21 Feb to an intraday low of just over €36.50/MWh on 7 Mar. The contract met support here and climbed to €38.80/MWh at the time of writing (11:55 GMT) on 7 Mar. This weakness spilt over to the Far East, with the Apr’25 Japan/Korea Marker (JKM) swap falling from $14.05/MMBtu on 21 Feb to $13.20/MMBtu on 26 Feb, where it met support and jumped to $13.85/MMBtu. However, the contract weakened again to $13.25/MMBtu on 6 Mar. Nonetheless, JKM was more supported than TTF this week, with the Apr’25 Basis differential (JKM vs TTF) rallying from -$0.50/MMBtu on 20 Feb to $1.30/MMBtu on 6 Mar.
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