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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 gains to the highest since Monday with support from colder weather next week, slightly higher storage withdrawals and after EU set targets for gas storage levels for 2024.
- The EU has set a gas storage target of at least 45% full on 1 February and preferably 55% full and with further intermediary targets of 45% in May, as well as targets for July and September.
- TTF front month has rebounded from a low of a low of 43.15€/MWh yesterday after falling on easing supply risks from the Middle East and Egypt LNG while near term supplies remain healthy.
- The TTF Dec23 - Q1 2024 spread has narrowed to the closest since August at -0.9€/MWh today while the spread to next winter have also narrowed.
- The Q1 2024 -Q1 2025 is up to -2.2€/MWh from around -3.75€/MWh earlier this week and Sum24-Win24 is up to -3.3€/MWh from a low of around -4€/MWh.
- TTF DEC 23 up 5.1% at 46.9€/MWh
- TTF Q1 24 up 4.7% at 47.85€/MWh
- TTF SUM 24 up 3.8% at 46.6€/MWh
- TTF WIN 24 up 2.5% at 49.88€/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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