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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.
NATGAS
The US EIA natural gas storage surplus is expected to narrow to about 7% above the five year average in data due on Dec 7 with an estimated withdrawal of 105bcf according to a survey from S&P Global Commodity Insights.
- The survey range varied from withdrawals of 80bcf to 125bcf compared to the five-year average of 48bcf and 30bcf seen this time last year.
- The colder weather in the Northeast and Midwest in late November has likely boosted demand and driven the first major drawdown from natural gas storage stocks after the bearish start to winter.
- In the week to Dec 1 the US gas market tightened by nearly 13.9 Bcf/d. US residential-commercial gas demand climbed by more than 8.1 Bcf/d to 38.8 Bcf/d and the highest since late February. Power demand was also up nearly 4.2 Bcf/d on the week to 34.1 Bcf/d. A drop in production by 0.9bcf/d was offset by a net gain in import-export flows.
- US Natgas JAN 24 down -0.8% at 2.69$/mmbtu
Source: S&P Global
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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