Free Trial
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.
NATURAL GAS
TTF time spreads narrow as front month rallies to the highest since Feb. 6 with cooler weather expected across parts of northern Europe from early next week and with a drop in Norwegian pipeline supply. Geopolitical risks are also adding to upside pressure on energy markets with further drone attacks on Russian energy infrastructure in the last week.
- LNG buying interest in Asia due to the low prices is providing added support after a mild winter, and muted industrial demand in Europe has kept storage high. US LNG exports are more profitable to Asia over Europe throughout the summer period according to BNEF.
- Feed gas flows to US LNG export terminals remain below normal while total European LNG imports declined 7% last week. The Freeport LNG terminal is restarting train 3 but at least two trains are expected to run through April, before all three trains come online in May according to Bloomberg.
- The Apr24 - Sum 24 spread has narrowed this week from -0.38€/MWh to the smallest spread since early Jan at about -0.15€/MWh today.
- Summer 24 prices have followed the front higher, taking the Sum 24 – Win 24 spread to around -3.6€/MWh from as wide as -4.75€/MWh in late February.
- The Sum24-Sum25 spread has also narrowed from around -3.1€/MWh to -1.65€/MWh.
- TTF APR 24 up 5.5% at 28.5€/MWh
- TTF SUM 24 up 5.1% at 28.61€/MWh
- TTF WIN 24 up 4.2% at 32.18€/MWh
- TTF SUM 25 up 3.4% at 30.25€/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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok