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The LNG-TTF basis spread in Northwest Europe widened about 81% month over month as buyers competed for slots and North American liquefaction pumped out spot cargoes. Platts assessed the DES NWE marker at $12.78/MMBtu, 93 cents below the March Dutch TTF hub.
An LNG trader said the spread could widen further as more spot volumes reach Europe.
Wider LNG-TTF spreads signal tight European slot availability and high delivered gas costs, which can keep European energy and fertilizer input costs elevated. The effect on feed commodity prices is indirect.
spglobal.comAly Blakeway, Sakshi JalanFeb 2, 2026Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
