MNI BOK WATCH: More Evidence Needed To Cut Rates, Says Rhee

MNI: PBOC Conducts CNY2 Bln Via OMO Thurs; Liquidity Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS THURS

MNI: PBOC Sets Yuan Parity Lower At 7.1339 Thurs; -1.06% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1339 THURS VS 7.1342

MNI BRIEF: Bank of Korea Keeps Policy Rate At 3.50%

CPI Details Show Disinflation Tapering Off for High-Rate Items (2/2)

CPI Details Show Disinflation Tapering Off for High-Rate Items (1/2)

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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

EU To Discuss Further Russian Gas Import Reductions

LNG
Homepagemarkets-real-timeCommoditiesEnergy BulletsBullet

European LNG prices fell 4.8% on Tuesday to EUR 33.55 after a low of EUR 33.16 but are still 15.2% higher this month. Norwegian flows are picking up after an outage while storage levels remain seasonally very high. BloombergNEF expects them to be at 100% by early October but competition with Asia for supplies persists.

  • The market remains sensitive to any supply disruptions and so Norway’s seasonal maintenance will be monitored for any unexpected extensions. The EU is also looking at ways to reduce remaining Russian energy imports and discussions are scheduled to occur this week.
  • US natural gas rose 2.4% to $2.84 to be up 22.4% in May. Forecasts for warmer weather in early June and implications for cooling demand boosted prices.
  • North Asian prices rose 0.7% to be over 20% higher this month driven by strong cooling demand.
139 words

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.

European LNG prices fell 4.8% on Tuesday to EUR 33.55 after a low of EUR 33.16 but are still 15.2% higher this month. Norwegian flows are picking up after an outage while storage levels remain seasonally very high. BloombergNEF expects them to be at 100% by early October but competition with Asia for supplies persists.

  • The market remains sensitive to any supply disruptions and so Norway’s seasonal maintenance will be monitored for any unexpected extensions. The EU is also looking at ways to reduce remaining Russian energy imports and discussions are scheduled to occur this week.
  • US natural gas rose 2.4% to $2.84 to be up 22.4% in May. Forecasts for warmer weather in early June and implications for cooling demand boosted prices.
  • North Asian prices rose 0.7% to be over 20% higher this month driven by strong cooling demand.