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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
The TTF gas premium of Q1 2024 over Q3 2023 has ticked back over 18€/MWh after falling to a low of nearly 16€/MWH on 31 May. The spread reached a peak of 21.9€/MWh on 11 May.
- Falling summer natural gas prices and steady European storage injections have pressured winter prices lower but the spread remains wide due to upside risks from a cold winter, any recovery in industrial demand and increased LNG demand from Asia.
- The TTF market price spike in reaction to the Hammerfest LNG headlines and disruption earlier this week suggests ongoing sensitivity to any reduction in LNG imports with Europe dependant on supplies to refill storage over the summer and to cover demand next winter.
- Hammerfest LNG is currently halted due to an unplanned outage until 11 June due to a gas leak according to Gassco.
- TTF JUL 23 up 1% at 23.33€/MWh
- TTF WIN 23 up 0.2% at 40.65€/MWh
- TTF SUM 24 down -0.4% at 41.5€/MWh
- TTF WIN 24 down -0.3% at 45.6€/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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