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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
NATURAL GAS
EU measures to reduced demand for this winter have brought down the front of the TTF curve but longer term periods remain supported.
- TTF NOV 22 down -2.6% at 165.48€/MWh
- TTF SUM 23 down -3% at 160.11€/MWh
- TTF WIN 23 down -1.7% at 156.08€/MWh
- TTF SUM 24 up 1.6% at 98.7€/MWh
- TTF WIN 24 up 2.5% at 97.34€/MWh
- The Nov 22 contract has fallen 36% over the last month thanks to efforts by EU members to reduce demand and with high prices attracting strong LNG flows.
- Concerns for the future market balance however are supporting periods from next summer onwards. Winter 24 has fallen just 7% over the same time period.
- Trafigura warn of concern for next winter and sees Europe still short of LNG infrastructure. Vitol CEO also said there will not be enough LNG regas capacity in Europe next year to replace missing Russian flows.
- Gunvor see a 15% gas demand destruction due to the high prices and Vitol see European industrial gas demand down 25-30%.
Source: Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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