MNI China Daily Summary: Thursday, May 16

MNI BRIEF: China To Take Necessary Measures Following Tariffs

MNI BRIEF: Aussie Unemployment Rises To 4.1% In April

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

MNI: PBOC Sets Yuan Parity Lower At 7.1020 Thurs; -3.70% Y/Y

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS THURS

US EIA:NAT GAS STORAGE +70 BCF TO 2,633 BCF MAY 10 WK

MNI: US APR INDUSTRIAL PROD +0.0%; CAP UTIL 78.4%

Homebuilding Activity Transitioning From Plateau To Pullback

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 Lower on Potential Return of Nord Stream Turbine

NATURAL GAS

European gas was down 7% this morning after Canada confirmed they would return the missing Nord Stream turbine and despite the start of the 10 day pipeline maintenance period. TTF has since ticked back up and now down 3% to 170€/MWh.

  • The delayed return of the turbine from maintenance in Canada due to sanctions was cited by Russia as reason for lower Nord Stream flows in recent weeks.
  • The Nord Stream pipeline today starts a period of maintenance until 21st July during which time flows to Europe will stop. Europe is concerned that Russia will not restart flows at the end of the period although the return of the turbine has eased those fears slightly.
  • Nominations show the expected halt to Nord Stream supply but supply through Ukraine remains at 41.1mcm/d.
  • Strong LNG and Norwegian supply continue with nominations for Norway slightly higher than levels last week at 336.8mcm/d.
  • Injections to European storage has stalled in recent days with data showing stocks 60.4% full as of 9th July.
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.