BOC WILL BE CONSDIERING FURTHER RATE CUTS

BOC DOESN'T SEE A RECESSION, RATHER SLOW GROWTH

BOC SAYS WEAKER CAD DRIVEN BY USD STRENGTH

MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

US EIA: CRUDE OIL STOCKS EX SPR -1.42M TO 422.0M DEC 06 WK

BOC CUTS RATE 50BPS TO 3.25%, SEES GRADUAL APPROACH FROM HERE

MNI: US NOV CPI 0.3%, CORE 0.3%; CPI Y/Y 2.7%, CORE Y/Y 3.3%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

TTF Steady Amid Bearish Trend as Volatility Dips

NATURAL GAS

Front month TTF has bounced between 29.21€/MWh and 30.72€/MWh today but is maintaining a bearish trend in place since October. Downside pressure has returned with the shift from cold weather this week to milder temperatures in Europe next week to combine with above average gas storage levels. Support comes from supply risks amid Red Sea diversions and lower US export terminal feedgas due to weather disruption.

  • The shape of the TTF curve has remained almost unchanged in the last week with the forward prices relatively flat until the end of the coming summer.
  • The Feb 2024 - Sum 24 is at -0.15€/MWh, the Sum 24 – Win 24 spread is holding steady this week around -4.5€/MWh while the Sum24-Sum25 maintains around -1.7€/MWh.
  • TTF second month implied volatility has fallen back from around 96% at the start of the year to 81.05% while front month 30 day historic volatility has edged down to 72.7%.
    • TTF FEB 24 down -0.8% at 29.67€/MWh
    • TTF SUM 24 down -0.7% at 29.88€/MWh
    • TTF WIN 24 down -0.3% at 34.5€/MWh
    • TTF SUM 25 down -0.4% at 31.68€/MWh
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.