MNI China Press Digest July 18: PBOC, Beijing, Arctic Shipping

MNI: PBOC Net Injects CNY47 Bln Via OMO Thurs; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1285 Thurs; -1.29% Y/Y

CHINA PBOC CONDUCTS CNY49 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1285 THU VS 7.1318

MNI BRIEF: China Equip't Renewal Policy Includes Foreign Firms

Australia Jun Unemployment Rate 4.0%

Japan Jun Exports +5.4% Y/Y; Imports +3.2% Y/Y

MNI:AUSTRALIA JUN UNEMPLOYMENT RATE +4.1%

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

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

Gas Markets Remain Wary Of Weather And Geopolitics

LNG

European LNG prices rose 3.1% on Wednesday to close above EUR 50 again but they are down slightly on the week as Israel’s ground offensive is on hold for now. In October to date they are 21.4% higher on the back of increased geopolitical tensions and the closure of a LNG platform off the coast of Gaza. Going into the northern hemisphere winter, gas markets are sensitive to any supply disruptions and weather forecasts.

  • Ship tracking data is showing that gas shipments to Europe from Egypt have already been impacted by the Israel/Gaza conflict, according to ANZ. Despite internal and external pressure, Israeli PM Netanyahu’s suggested there would still be a ground offensive into Gaza.
  • After a short period of industrial action, Chevron and Australian unions came to an agreement, which workers will vote on. Unions have not said when the ballot will take place. The agreement includes not just a pay rise but fixed rosters and increases to field loadings.
  • US LNG prices rose 1.9% on Wednesday to be up 3.9% this week and 2.9% in October to date.
  • North Asian prices rose 0.6% yesterday and are 22.7% higher on the month. Gains may be limited though as Japanese inventories have risen strongly.
Energy BulletsCommodities
Energy BulletsCommodities

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.