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NATURAL GAS
TTF front month is surging higher again to set fresh highs towards the end of the day with support from near term supply risks combining with easing temperatures into October. Front month futures are trading up to the highest since early April.
- Supply risks from Norway maintenance extensions, US export terminal maintenance and some lingering concerns from Australia LNG supply are all supporting the move.
- Moves in future season are more muted with the largest move at the front of the curve. Longer term forecast for mild weather and near full storage inventories are helping to ease the concern for tight winter gas supplies and damped the moves beyond the front month as the Oct-Dec spread narrows.
- TTF OCT 23 up 12.4% at 44.71€/MWh
- TTF WIN 23 up 6% at 50.25€/MWh
- TTF SUM 24 up 3.6% at 50.54€/MWh
- TTF WIN 24 up 3% at 54.04€/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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