MNI BRIEF: China Passenger Car Sales Up In November Y/Y

MNI China Daily Summary: Monday, December 9

MNI BRIEF: China To Strengthen Policy Easing In 2025: Poliburo

MNI BRIEF: Mexico Inflation Down To 4.55% In November

MNI BRIEF: China Nov CPI Slows To 5-Month Low Of 0.2% Y/Y

MNI: PBOC Sets Yuan Parity Higher At 7.1870 Mon; -1.39% Y/Y

MNI JAPAN Q3 GDP REV +0.3% Q/Q; PRELIM +0.2%; MEDIAN +0.2%

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

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 Trending Lower, Goldmans Cuts 2024 Forecast

LNG

Natural gas prices are down sharply in February as the heating season approaches its end in the midst of continued mild weather and high inventories. European storage is at more than 66% full. European LNG fell 1.1% on Friday to EUR 24.69 to be down 18.3% this month and almost 24% in 2024 to date. Norwegian outages have not disrupted the downtrend.

  • Goldman Sachs is expecting LNG prices to fall in 2026-2028 when Qatar and the US’ increased export capabilities come on line, which will mean that Europe won’t have to compete with other regions for available gas. It estimates that close to 200mn tonnes/year of gas liquefaction capacity will be available by 2028, over double the flows from Russia Europe received. Goldmans still sees winter 2024-25 as a risk to prices. It has cut its 2024 forecast 24% due to milder weather and lower coal prices.
  • US natural gas prices rose 1.4% on Friday but are down 23.7% in February to date on mild weather and strong supplies.
  • North Asian gas fell sharply at the end of last week by 8.3% to be down 10.1% this month.
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.