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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.
NATURAL GAS
TTF extends the pull back today amid volatile trading with uncertainty over potential industrial action at Chevron's two LNG production facilities in Australia of Gorgon. The current status of talks between unions and Chevron remains unclear but strikes could begin from 7 Sep.
- Trading in the last week since the Woodside LNG union agreement has seen front month trade between 34.2€/MWh and 41.9€/MWh.
- Supply risks are set against high natural gas storage levels at 92.7% and low European demand. German gas consumption was last week 20.5% below the 2018-21 average.
- TTF 30 day historic volatility has increased back to the high levels seen in early July at 145% today.
- ICE TTF traded volumes have held around 220k contracts in the last couple of days and just below the average of 242k seen so far in August.
- TTF OCT 23 down -9.4% at 35.67€/MWh
- TTF WIN 23 down -5% at 48.55€/MWh
- TTF SUM 24 down -3.2% at 51.48€/MWh
Source: Bloomberg
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.
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