MESTER: WILL NORMALIZE INTEREST RATES 'AT SOME POINT'

MESTER: MY OWN FORECAST EXPECTS INFLATION TO COME DOWN

MESTER: NEED TO SEE MORE DATA TO BE ASSURED INFLATION ON TRACK

MNI BRIEF: BCB's Campos Neto: 'Not Afraid To Do What's Needed'

MNI China Daily Summary: Wednesday, April 17

MNI BRIEF: China To Quicken Project Construction - NDRC

MNI: US TSY TICS NET FLOWS IN FEB +$51.6B

US Treasury Auction Calendar

US EIA: CRUDE OIL STOCKS EX SPR +2.74M TO 460.0M APR 12 WK

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

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

TTF Extends Decline to Lowest Since July

COMMODITIES

OIL

  • Brent briefly bounced back up to 86$/bbl before falling back as weak demand growth and a strong dollar are balanced against the possibility of a reaction from OPEC and other supply uncertainty. After the last OPEC meeting, the group indicated that they could take action at any time to address market developments if necessary.
  • Gasoline and diesel cracks have found more support than crude recently due to low stocks and refinery outages and despite low US demand data. GasBuddy data suggests US gasoline demand holding up over the last couple weeks after a big drop at the start of September.
    • Brent NOV 22 down -0.5% at 85.76$/bbl
    • WTI NOV 22 down -0.5% at 78.36$/bbl
    • Gasoil OCT 22 down -1.6% at 947.75$/mt

GAS

  • European gas prices continue to pull back with front month TTF trading at the lowest since the end of July before Nord Stream pipeline flows were cut down from 40% capacity to zero.
  • European gas storage continues to fill to 87.41% with the help of strong LNG supplies despite the reduced pipeline supplies from Russia. A recovery in supply from Norway is also helping as fields gradually return from maintenance.
    • TTF OCT 22 down -8.5% at 169.75€/MWh
    • US Natgas OCT 22 down -2.1% at 6.69$/mmbtu
Energy BulletsCommodities
Energy 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.