MNI: RBA LEAVES CASH RATE AT 4.35%

CHINA NOV EXPORTS +6.7% Y/Y VS MEDIAN +8.9% Y/Y: CUSTOMS

MNI: CHINA YTD EXPORTS +6.7% Y/Y IN YUAN TERM: CUSTOMS

MNI: PBOC Net Injects CNY90.3 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1896 Tues; -1.71% Y/Y

MNI BRIEF: Inflation Expectations Tick Higher - NY Fed

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

EZ/UK T-Bill Calendar: Spain, Belgium Auction on Tuesday

MNI:US OCT WHOLESALE INV 0.2%; SALES -0.1%

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

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

NATGAS: Gas Markets at European Close: Delayed Mid East Response Prompts Rally

NATGAS
Energy BulletsBulletPower BulletsCommodities

TTF saw a significant price rally on Tuesday following headlines that an Iranian ballistic missile attack on Israel is imminent in retaliation for recent attacks on its proxies in the region - most notably the assassination of Hezbollah head Nasrallah on Friday. 

  • TTF NOV 24 up 1.3% at 39.55€/MWh
  • The move saw a swift reversal to weakness earlier in the session as prior geopolitical risk premium was pricing out from Monday’s jump.
  • The TTF price response was more muted at first than oil before pushing back to early September levels.
  • TTF nears resistant levels: RES 1: €39.50 - High Sep 30, RES 2: €40.25 - High Sep 3.
  • The market remains prone to volatility as Europe enters its heating season. The regions inventories near 95% full.
  • Flows from top supplier Norway are recovering after a heavy period of maintenance with only minor delays announced so far at some facilities/fields.
  • Temperatures across parts of Europe are set to turn colder than usual this month, proving supportive for prices this week.
  • Gas transmission capacity from Hungary towards Slovakia at the Velke Zlievce/Balassagyarmat border point will increase by one-third from tomorrow until the end of March 2025.
  • Italy's OLT LNG terminal is scheduled to resume operations on Nov. 24 after completing extraordinary maintenance.
  • A new Greek LNG storage and regasification unit off Alexandroupolis started commercial operations off the country’s northeastern coast on Tuesday.
  • LNG floating storage has risen again in the last week, up 3.5% on the week to 4.44m tons, to continue the trend in place since mid August ahead of the upcoming winter heating season.
255 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 saw a significant price rally on Tuesday following headlines that an Iranian ballistic missile attack on Israel is imminent in retaliation for recent attacks on its proxies in the region - most notably the assassination of Hezbollah head Nasrallah on Friday. 

  • TTF NOV 24 up 1.3% at 39.55€/MWh
  • The move saw a swift reversal to weakness earlier in the session as prior geopolitical risk premium was pricing out from Monday’s jump.
  • The TTF price response was more muted at first than oil before pushing back to early September levels.
  • TTF nears resistant levels: RES 1: €39.50 - High Sep 30, RES 2: €40.25 - High Sep 3.
  • The market remains prone to volatility as Europe enters its heating season. The regions inventories near 95% full.
  • Flows from top supplier Norway are recovering after a heavy period of maintenance with only minor delays announced so far at some facilities/fields.
  • Temperatures across parts of Europe are set to turn colder than usual this month, proving supportive for prices this week.
  • Gas transmission capacity from Hungary towards Slovakia at the Velke Zlievce/Balassagyarmat border point will increase by one-third from tomorrow until the end of March 2025.
  • Italy's OLT LNG terminal is scheduled to resume operations on Nov. 24 after completing extraordinary maintenance.
  • A new Greek LNG storage and regasification unit off Alexandroupolis started commercial operations off the country’s northeastern coast on Tuesday.
  • LNG floating storage has risen again in the last week, up 3.5% on the week to 4.44m tons, to continue the trend in place since mid August ahead of the upcoming winter heating season.