MNI: US NOV FINAL SRVCS PMI 56.1 (FLASH 57.0); OCT 55.0

MNI BRIEF: Barkin Aims For 'Somewhat Restrictive' Fed Rates

MNI BRIEF: US Pay Gains Stabilizing At Higher Rate -ADP

MNI China Daily Summary: Wednesday, Dec 4

MNI BRIEF: China Must Quicken Reforms To Boost Domestic Demand

MNI: PBOC Net Drains CNY227 Bln via OMO Wednesday

EZ/UK Bond Supply Calendar: Spain, France Auction, UK Tender

US EIA: CRUDE OIL STOCKS EX SPR -5.07M TO 423.4M NOV 29 WK

MNI: US ISM NOV SERVICES COMPOSITE INDEX 52.1

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

Gas Prices Continue Move Lower On Weak Economic Outlook

LNG

European LNG prices more than unwound Friday’s gains falling 7.1% to EUR 40.42. They broke through EUR 40 briefly making a low of EUR39.87. Weak demand from a stagnating economy is weighing on gas prices and has offset recent cold weather. Risks to ships in the Red Sea also haven’t been able to support prices either.

  • US gas prices fell another 3.9% due to forecast warmer weather for the southwest and northeast. Concerns continue of oversupply. Monday’s BNEF data show that output from the lower-48 states rose 5.8% y/y whereas demand is down 4.5% y/y. This trend has been weighing on US gas prices for some time.
  • The weak economic outlook also weighed on North Asian gas prices which fell 1.2%. The news that a nuclear power plant in Japan had been restarted was also a negative.
Energy BulletsPower BulletsCommodities
Energy BulletsPower 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.