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
The front month JKM-TTF spread is holding in positive territory while the US netbacks to Europe and Asia are near parity for April with Europe at 10.39$/mmbtu and Asia at 10.25$/mmbtu.
- Warm weather in Europe and Japan is keeping storage inventories elevated approaching the end of the northern hemisphere winter heating season. LNG stocks held by Japanese power generators increase 7.2% to 2.38m tons in the week to 12 March. Stocks are 46% higher than the 1.63m tons this time last year and above the five year average of 2.07m tons.
- The pull back in TTF has brought the TTF curve below JKM throughout the coming summer months. The US netbacks for the remaining summer months have switched in favour of Asia with spread at a premium to Europe by about 0.7 and 0.9$/mmbtu according to Bloomberg.
- TTF APR 23 up 1.6% at 43.61€/MWh
- NBP APR 23 up 0.7% at 107p/th
- JKM Apr 23 down -0.2% at 14.17$/mmbtu
- JKM-TTF Apr 23 down -0.1$/mmbtu at 0.66$/mmbtu
- US Natgas APR 23 up 3.4% at 2.52$/mmbtu
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok