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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.
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TTF Rallies with Market Sensitive to Supply Risks
TTF front month has rallied back into positive territory on the day to reach just above the high from Friday at €33.68/MWh but with no clear market driver.
- The market remains wary of supply risks as Europe looks to slowly build natural gas stores ahead of next winter.
- Warm weather boosting demand in Asia and an active Atlantic hurricane season forecast are upside risks to LNG supplies to Europe.
- The TTF Q3 24 – Q1 25 spread has narrowed since mid May suggesting a tighter market although is relatively stable so far today. The spike in near term prices due to Norwegian supply disruption last week highlighted the market sensitivity to supply outages.
- Norwegian pipeline supplies to Europe have recovered to 328.6mcm/d today with the repairs to the Sleipner Riser Platform complete. Flows are however still restricted by an outage at the Visund field, reducing capacity by 15.4mcm/d until June 17.
- TTF JUL 24 up 1.2% at 33.49€/MWh
- TTF Q3 24 up 1.2% at 33.9€/MWh
- TTF WIN 24 up 1.3% at 37.89€/MWh
- TTF SUM 25 up 0.9% at 35.12€/MWh
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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.