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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
EU net withdrawal rates fell to the lowest this year at just 1,232TWh/d on Feb 18 according to the latest GIE data.
- Net storage withdrawals have been around 42.5% below normal in the week to Feb 18 with withdrawals of around 2,530GWh/d compared to the previous five year average of about 4,410GWh/d.
- Net European gas storage is above the previous five year range highs at 65.32% full on Feb 18 according to GIE data compared to the seasonal five year average of 49.0% due to the low withdrawal rates this winter.
- 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 46.7% and 62.1% and remain above the previous five year end of season average of around 41.5%.
- Storage in Germany is down to 182.4Wh (71.6% full), Italy to 117.8TWh (59.8%), Netherlands to 83.8TWh (58.8%), Austria to 78.1TWh (80.0%) and France to 66.4TWh (49.45%).
- TTF MAR 24 up 1.9% at 24.15€/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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