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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.
NATGAS
The TTF May 24 – Q3 24 spread has fallen from nearly -0.2€/MWh in mid March a low of -0.75€/MWh as high end of winter season gas storage levels and muted demand in Europe due to warm weather weigh on the front of the curve.
- May24 TTF has seen some support in the later half of this week amid a dip in Norway supply and some LNG interest from Asia but is still set for about a 1€/MWh decline on the week.
- The Q3 24 – Q1 25 spread narrowed slightly yesterday after also seeing a steady decline from around -4.1€/MWh on Mar. 19 to a low of -5.3€/MWh on Apr. 3.
- Recent strength in Brent is giving spot TTF the edge over lower sloped oil-indexed contracts according to ICIS.
- TTF has fallen considerably at the front over the last six months but has hardly moved in the back half of the decade awaiting the next wave of LNG supply.
- TTF MAY 24 up 0.6% at 26.36€/MWh
- TTF Q3 24 up 0.7% at 27.1€/MWh
- TTF WIN 24 up 0.5% at 31.28€/MWh
- TTF SUM 25 up 0.3% at 29.93€/MWh
Source: ICIS
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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