MNI BRIEF: Carney Says US Tariffs Will Boost Inflation, Rates

MNI: US JAN FINAL SERVICES PMI 52.9 (FLASH: 52.8); DEC 56.8

MNI BRIEF: U.S. Wage Growth Stagnating At Strong Levels - ADP

MNI China Daily Summary: Wednesday, February 5

MNI BRIEF: China Spring Festival Trips Up 5.9% Y/Y

MNI: PBOC Net Drains CNY716.5 Bln via OMO Wednesday

US EIA: CRUDE OIL STOCKS EX SPR +8.66M TO 423.8M JAN 31 WK

MNI: US ISM JAN SERVICES COMPOSITE INDEX 52.8

CANADA'S 2024 U.S. TRADE SURPLUS WAS CAD102B VS PRIOR CAD108B

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

GERMANY: Kukies Considers Potential Non-Implementation Of 2024 Suppl' Budget

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

NATGAS: Mid-Day Gas Summary: TTF Eases Back

NATGAS
Energy BulletsBulletPower BulletsCommodities

TTF front month has eased back from a high of €51/MWh last week amid a recovery in LNG supply. However, prices remain supported by cold weather in NW Europe and strong storage withdrawals after the halt to gas transit flows via Ukraine.

  • TTF FEB 25 down 3.2% at 48.05€/MWh
  • TTF Q1 25 down 0.3% at 47.73€/MWh
  • Temperatures in NW Europe are forecast to drift lower in the coming days and remain just below normal through mid-Jan.
  • Well above normal storage withdrawal rates since Dec. 25 weigh on overall stores taking current levels down to 70.33% full on Jan. 4, according to GIE, compared to the previous five-year average of 76.2%.
  • NW European LNG sendout was back up to 220mcm/d on Jan. 4 compared to average of 196mcm/d over the previous week.
  • Norwegian pipeline supplies to Europe are 335.8mcm/d today, according to Bloomberg. Gassco shows an increase in unavailable capacity in the coming days up to 36mcm/d of outages on Jan. 8.
  • The new US Plaquemines LNG export facility appears to have loaded its second LNG cargo on January 5, according to ICIS.
  • Indian Oil Corp. is seeking a term deal for 12 LNG cargoes a year for as much as 20 years from 2027 or 2028, according to Bloomberg sources.
  • PetroChina's customers are reselling surplus pipeline gas volumes under 2024-25 contracts due to weak downstream demand caused by warmer-than-expected winter.
221 words

To read the full story

Close

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.

TTF front month has eased back from a high of €51/MWh last week amid a recovery in LNG supply. However, prices remain supported by cold weather in NW Europe and strong storage withdrawals after the halt to gas transit flows via Ukraine.

  • TTF FEB 25 down 3.2% at 48.05€/MWh
  • TTF Q1 25 down 0.3% at 47.73€/MWh
  • Temperatures in NW Europe are forecast to drift lower in the coming days and remain just below normal through mid-Jan.
  • Well above normal storage withdrawal rates since Dec. 25 weigh on overall stores taking current levels down to 70.33% full on Jan. 4, according to GIE, compared to the previous five-year average of 76.2%.
  • NW European LNG sendout was back up to 220mcm/d on Jan. 4 compared to average of 196mcm/d over the previous week.
  • Norwegian pipeline supplies to Europe are 335.8mcm/d today, according to Bloomberg. Gassco shows an increase in unavailable capacity in the coming days up to 36mcm/d of outages on Jan. 8.
  • The new US Plaquemines LNG export facility appears to have loaded its second LNG cargo on January 5, according to ICIS.
  • Indian Oil Corp. is seeking a term deal for 12 LNG cargoes a year for as much as 20 years from 2027 or 2028, according to Bloomberg sources.
  • PetroChina's customers are reselling surplus pipeline gas volumes under 2024-25 contracts due to weak downstream demand caused by warmer-than-expected winter.