FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

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: Mid-Day Gas Summary: TTF Pulls Back

NATGAS
Energy BulletsBulletPower BulletsCommodities

TTF is pulling back after initial gains failed to break through last week’s high with unchanged fundamentals and ongoing supply risks from Norway, the Middle East and the US Gulf of Mexico.

  • TTF OCT 24 down 1.4% at 35.72€/MWh
  • Signs for a deal for Azerbaijan gas to replace Russian gas transit via Ukraine last week sent prices tumbling but a lack of confirmation has seen them recover.
  • Israel attacked Hezbollah targets in Lebanon on Monday, while Iran said that it is prepared to intervene to de-escalate the worsening situation if Israel does too. The conflict is likely to be discussed by the UN today.
  • Temperatures in NW Europe are expected to fall below normal into the coming weekend.
  • Norwegian pipeline supplies to Europe are today nominated back down to 269mcm/d, according to Bloomberg.
  • Small European gas storage injections continue as total stores edged up to 93.72% full on Sep 22, according to GIE.
  • LNG floating storage has resumed the increasing trend in place since mid-August after a brief dip last week.
  • Bangladesh's RPGCL is seeking an LNG cargo for delivery on October 10-11, Reuters sources said on Tuesday.
  • Canadian natural gas prices fall to the lowest since August 2022 with further downside pressure expected due to near full capacity storage levels in Alberta
  • China’s natural gas consumption is exceeding expectation in 2024, driven by power generation and LNG fuelled vehicle demand, according to OilChem.
  • A colder-than-normal winter in Asia would raise demand for LNG as the region competes with Europe to secure enough supplies to cover winter heating demand. 
248 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 is pulling back after initial gains failed to break through last week’s high with unchanged fundamentals and ongoing supply risks from Norway, the Middle East and the US Gulf of Mexico.

  • TTF OCT 24 down 1.4% at 35.72€/MWh
  • Signs for a deal for Azerbaijan gas to replace Russian gas transit via Ukraine last week sent prices tumbling but a lack of confirmation has seen them recover.
  • Israel attacked Hezbollah targets in Lebanon on Monday, while Iran said that it is prepared to intervene to de-escalate the worsening situation if Israel does too. The conflict is likely to be discussed by the UN today.
  • Temperatures in NW Europe are expected to fall below normal into the coming weekend.
  • Norwegian pipeline supplies to Europe are today nominated back down to 269mcm/d, according to Bloomberg.
  • Small European gas storage injections continue as total stores edged up to 93.72% full on Sep 22, according to GIE.
  • LNG floating storage has resumed the increasing trend in place since mid-August after a brief dip last week.
  • Bangladesh's RPGCL is seeking an LNG cargo for delivery on October 10-11, Reuters sources said on Tuesday.
  • Canadian natural gas prices fall to the lowest since August 2022 with further downside pressure expected due to near full capacity storage levels in Alberta
  • China’s natural gas consumption is exceeding expectation in 2024, driven by power generation and LNG fuelled vehicle demand, according to OilChem.
  • A colder-than-normal winter in Asia would raise demand for LNG as the region competes with Europe to secure enough supplies to cover winter heating demand.