MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1321 THURS VS 7.1358

MNI China Daily Summary: Wednesday, July 24

MNI: PBOC Net Drains CNY203.9 Bln Via OMO Wednesday

MNI: JAPAN JUNE SERVICES PPI +3.0% Y/Y; MAY REV +2.7%

MNI BRIEF: Japan June Services PPI Rises 3.0% Vs. May's 2.7%

US Treasury Auction Calendar

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

Mid-Day Gas Summary: TTF Stabilises

NATGAS
Homepagemarkets-real-timeCommoditiesEnergy BulletsBullet

TTF front month has steadied after retreating to levels seen mid last week. The stabilisation comes from a clearer timeline for the return of Norwegian supply from unplanned outage.

  • TTF JUL 24 up 0.4% at 33.92€/MWh
  • TTF Q3 24 up 0.3% at 34.28€/MWh
  • Norwegian pipeline supplies to Europe are today nominated at 280.5mcm/d amid the unplanned outage at Nyhamna. The outage has been extended until Friday according to Gassco yesterday with the repair schedule from the operator of the Sleipner riser platform expected to take two days.
  • Temperatures in NW Europe are expected to remain cool in the coming week, but above normal temperatures are still expected elsewhere in Europe.
  • Total European gas storage was up to 70.62% full on June 3 according to GIE compared to the five-year seasonal average of 58.6% with net injection rates 30% below normal in the last week.
  • Egypt expects to import over 20 LNG cargoes over the summer to try and ease power shortages in the country – a huge step up for its imports.
  • LNG stockpiles held by Japanese utilities increased 8.25% w/w to 2.23m tons in the week to June 2 from 2.06m tons the previous week, according to data released by the trade ministry.
  • The Biden administration intends to finalize an environmental and economic review of its LNG exports by the end of the first quarter of 2025, following a period of public comment according to Energy Secretary Jennifer Granholm.
240 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 steadied after retreating to levels seen mid last week. The stabilisation comes from a clearer timeline for the return of Norwegian supply from unplanned outage.

  • TTF JUL 24 up 0.4% at 33.92€/MWh
  • TTF Q3 24 up 0.3% at 34.28€/MWh
  • Norwegian pipeline supplies to Europe are today nominated at 280.5mcm/d amid the unplanned outage at Nyhamna. The outage has been extended until Friday according to Gassco yesterday with the repair schedule from the operator of the Sleipner riser platform expected to take two days.
  • Temperatures in NW Europe are expected to remain cool in the coming week, but above normal temperatures are still expected elsewhere in Europe.
  • Total European gas storage was up to 70.62% full on June 3 according to GIE compared to the five-year seasonal average of 58.6% with net injection rates 30% below normal in the last week.
  • Egypt expects to import over 20 LNG cargoes over the summer to try and ease power shortages in the country – a huge step up for its imports.
  • LNG stockpiles held by Japanese utilities increased 8.25% w/w to 2.23m tons in the week to June 2 from 2.06m tons the previous week, according to data released by the trade ministry.
  • The Biden administration intends to finalize an environmental and economic review of its LNG exports by the end of the first quarter of 2025, following a period of public comment according to Energy Secretary Jennifer Granholm.