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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.
NATURAL GAS
Risk of cooler weather and short term supply reductions from Norway have pushed prices out to the end of Win24 higher this week despite prices easing back slightly today. Future seasons beyond Win24 have remained steady on the expectation of increased global LNG liquefaction capacity.
- Since the end of last week front month TTF has risen nearly 27%. In the same time period Win23 is up 18%, Win24 is up 12% and Win25 has increased just 3%.
- The warm start to the winter has eased the pressure on short term supplies with stronger gas storage levels than expected. Total EU storage is holding at 95.55% based on GIE data from Nov 14. Supply risks and the threat of cold weather are likely to drive significant price swings during the current winter season.
- Front month TTF 30 day historic volatility is near the highest since April.
- The current weather forecast is showing a dip in temperatures across Europe over the weekend before a recovery back above into next week in NW Europe.
- TTF DEC 22 down -3.9% at 119.3€/MWh
- TTF SUM 23 down -1.7% at 127€/MWh
- TTF WIN 23 down -2% at 124.61€/MWh
- TTF SUM 24 down -2.1% at 95€/MWh
- TTF WIN 24 down -2.7% at 92€/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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