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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 continues to edge higher today although weak demand is still limiting upside moves despite ongoing tight supply concerns. The return of warmer weather to NW and central Europe after the first few days of July is providing price support.
- Front month has recovered earlier losses from an intra-day low of ay low of around €33.85/MWh.
- European industrial sector is showing few signs of recovery despite lower gas prices according to Kpler with metals imports, including iron ore and aluminium, structurally weakened into 2023.
- Poor downstream demand is still affecting industrial production and gas demand according to ICIS. Collapsed demand means that millions of tonnes of European chemicals capacity remains offline despite much lower gas costs. ICIS report Europe at a competitive disadvantage to other regions and some customers are seeking new sources of lower-priced supply, especially from Asia and the Middle East.
- TTF AUG 23 up 3.4% at 36.55€/MWh
- TTF WIN 23 up 2.5% at 51.63€/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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