Free Trial
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.
NATURAL GAS
Withdrawals rates have eased back from highs of last week and pressure on storage could be further reduced with demand expected to be muted by warmer than normal weather from this weekend. Storage levels remain high and the near term prices holding a bearish tone despite the recent cold weather in Europe.
- Summer 2024 pricing is expected above 2023 levels given current weather forecasts and storage modelling according to RBC Europe Ltd. RBC said gas storage could fall to about 40% full by the end of March with a potentially colder winter than last year in Europe.
- Total European gas storage is currently down to 93.9% full on Dec 3 according to GIE data compared to the seasonal five year average of 83.6%.
- Net withdrawals in the week to Dec 3 averaged nearly 5,760GWh/d compared to the 2018-2022 average for the period of 4,220GWh/d.
- TTF JAN 24 down -0.5% at 39.89€/MWh
- TTF Q1 24 down -0.8% at 40.15€/MWh
- TTF SUM 24 down -1.1% at 39.55€/MWh
- TTF WIN 24 down -1% at 43.77€/MWh
Source: GIE / 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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok