MNI China Daily Summary: Thursday, April 18

MNI BRIEF: M2 Growth To Slow On Weak Demand - PBOC's Zou

MNI BRIEF: PBOC To Watch CNY Moves Closely - Vice Governor Zhu

MNI BRIEF: China Aims To Digitalise 70% Of Firms By 2025

MNI BRIEF: Q1 Cross Border Activity Up 117.8% - Ministry

MNI: PBOC Conducts CNY2 Bln Via OMO Weds; Liquidity Unchanged

MNI UK Inflation and Labour Market Insight: April 2024 Release

MNI: EUROZONE FEB CONSTRUCTION OUTPUT +1.8% M/M, -0.4% Y/Y

Q1 Industry Survey Suggests H1 Growth Tailwind

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

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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TTF Eases Lower Amid Ongoing Supply Issues

NATURAL GAS

The European gas price rally is taking a breather this morning but is still up about 60€/MWh since last week.

  • TTF SEP 22 down -6% at 302.01€/MWh
  • TTF WIN 22 down -4.6% at 309€/MWh
  • The supply reductions and fear of more from Russia have pushed prices to record levels and is causing disruptions to industrial production and threatening European economies. Supplies through Nord Stream are currently stable at 31.9mcm/d before the expected three day shutdown from Aug 31. Supplies through Ukraine are today nominated at 42.2mcm/d.
  • Lower Norwegian supplies due to maintenance, the delayed return of US Freeport LNG and drought limiting nuclear and hydro power output have all added to the upside pressure on gas prices. Norway flows are today nominated at 309mcm/d with outages expected to continue into September and coincide with the Nord Stream outage.
  • European storage is up to 78.3% full with Germany at 81.28%, Italy at 80.48%, France at 90.34% and Netherlands at 73.72%.
Energy BulletsCommodities
Energy BulletsCommodities

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