The unravelling begins

EU gas market teeters towards bearish flip, as physical and financial players liquidate positions | EU LNG Chart Deck: 9 September 2024

The European gas market appears to be teetering towards a new bearish chapter.

Like a spinning top losing momentum, the bull market is caught in its final erratic throes.

After the speculative buying frenzy of the last seven months, a reconciliation with flaccid fundamentals was overdue.

That moment is nearly upon us, and traders are positioning accordingly on Europe’s benchmark gas trading hub, the Dutch Title Transfer Facility (TTF).

This week’s subscriber-only EU LNG Chart Deck provides a forensic analysis of TTF fund movements and macro view of the wider gas/LNG panorama.

The post concludes by describing how the unwinding of bullish positions could play out in TTF futures this winter, and other factors to consider as the heating season looms into view.

Article stats: 2,000 words, 9-min reading time, 12 charts and graphs