Cold weather has finally arrived in Europe, necessitating some of the season’s first natural gas storage withdrawals and lifting prompt prices. 

The Title Transfer Facility (TTF) finished last week higher on colder forecasts and the gains held Monday, when the December contract finished 30 cents higher at $34.87/MMBtu. Other winter contracts fell with storage inventories high and supply risks seen easing for now as LNG deliveries remain steady.

Below normal temperatures are expected in the UK, Finland, Sweden, Norway, Northern Germany and Poland this week, according to Maxar’s Weather Desk. Over the six to 10 day period, however, the forecast is expected to shift warmer across Northeast Europe and Scandinavia, keeping the focus on what could happen to the continent’s...