MNI BRIEF: Trade War To Increase Volatility Inflation -Panetta

MNI China Daily Summary: Friday, November 15

MNI BRIEF:China Optimistic On Property Despite Investment Fall

CORRECTED-MNI INTERVIEW: NBH To Hold Rates

MNI BRIEF: China Oct Retail Sales Surge On Holiday, Trade-ins

CHINA OCT INDUSTRIAL OUTPUT +5.3% Y/Y VS MEDIAN +5.5% Y/Y: NBS

EZ/UK Bond Supply Calendar: EU Synd; SK, BE Auction on Monday

MNI: US SEP BUSINESS INVENTORIES +0.1%; SALES +0.3%

MNI: US OCT INDUSTRIAL PROD -0.3%; CAP UTIL 77.1%

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Mid-Day Gas Summary: TTF Rebounds From 2-Month Low

NATURAL GAS

European gas prices are extending gains throughout this morning despite no significant change in fundamentals and forecasts for milder weather in the coming week. Front month TTF is recovering from Friday’s low of €37.75/MWh, driven by cooler weather and higher storage withdrawals.

    • TTF JAN 24 up 3.4% at 39.44€/MWh
    • TTF Q1 24 up 3.4% at 39.75€/MWh
    • TTF SUM 24 up 2.9% at 39€/MWh
  • Temperatures in NW and central Europe are forecast to rise above normal from this weekend and currently expected to remain on the warm side beyond the middle of December.
  • European gas demand for power could be limited in 2024 due to sustained hydro output, improving nuclear-plant availability and a rising share of wind and solar generation according to Bloomberg.
  • Pipeline supplies into Europe from Norway are back up slightly to 348.2mcm/d but just below the recent highs amid planned outages at the Dvalin field this week.
  • European natural gas storage is back to the top of the previous five year range at 93.31% full on Dec 4 according to GIE data after recent greater than normal withdrawal rates. The seasonal five year average is 83.2%.
  • European LNG sendout was back up to 462mcm/d on Dec 4 after dipping back to around 415mcm/d over the weekend.
  • LNG stockpiles held by Japanese utilities fell by 6.81% on the week to 2.19mn tons as of 3 December according to data released by the trade ministry.
  • Woodside Energy will buy 1.3mtpa of LNG for the duration of 20 years from Mexico Pacific's Saguaro Energia LNG project, the Australian company said.
CEEMEAEnergy BulletsCommodities
CEEMEAEnergy BulletsCommodities

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.