A sustainable trend on natgas ?

In the last couple of weeks european energy markets are on a risk-on apitude. The reasons behind this last move are in some way not sustainable in the short run but at the same time are particularly justified looking further ahead to the next quarter.

*TTF front month

On the price action side the move seems to be a bit overstretched, fundamentals are still drawing a bearish background even though some risk is building on the next quarter...

Asian demand for LNG and geopolitical risks are driving expectations for an increase in market volatility.

What's your take ?