Free Trial

TTF Finds Further Support Monday

NATGAS

TTF front month is pushing higher Monday. A brief cold spell in Europe and supply uncertainties from lower US exports as well as competition for LNG supplies are adding support.

  • TTF APR 24 up 1.9% at 28.32€/MWh
  • TTF SUM 24 up 2% at 28.5€/MWh
  • TTF WIN 24 up 1.9% at 32.38€/MWh
  • LNG flows to Northwest Europe on March 21 were 183.66 mcm/d, 11% lower than the 30 day average.
  • US liquefied natural gas exports are currently more profitable to Asia in May, June and July according to Bloomberg. The gas price spread between Asia and Europe is $0.77/MMBtu in April.
  • European gas storage was 59% full on March 23 vs the 5-yr seasonal norm of 42% for this time of year according to GIE figures.
  • Norwegian nominated flows to the UK and Northwest Europe terminals at 345.70 mcm/d vs 5-day moving avg 338.74 mcm/d according to Gassco.

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.