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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
European gas storage remains above the previous five year range at 63.86% full on Feb 25 according to GIE data compared to the seasonal five year average of 47.0% as withdrawal rates fall back below normal after near normal rates late last week.
- EU net withdrawal rates fell back to 1,733TWh/d on Feb 25 from 2,998TWh/d on Feb. 23 according to GIE data.
- Net storage withdrawals have been around 20.7% below normal in the week to Feb. 25 with withdrawals of around 2,350GWh/d compared to the previous five year average of about 2,970GWh/d.
- Based on the withdrawal rates from the last ten years from now until the end of March the EU storage level is likely to fall to between 50.1% and 62.2% compared to the previous five year end of season average of around 41.5%.
- Storage in Germany is down to 179.4Wh (70.4% full), Italy to 114.95TWh (58.4%), Netherlands to 81.9TWh (57.5%), Austria to 77.2TWh (79.0%) and France to 62.5TWh (46.5%).
- TTF MAR 24 down -3.3% at 23.22€/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.
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