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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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Free AccessGlobal Natgas Prices Fall on Muted Demand
Covid restrictions and protests in China are weighing on fuel demand expectations resulting in muted LNG buying activity from China. Northeast Asia spot LNG prices have fallen to the low 30$/mmbtu.
- The front month JKM discount to Brent has been hovering between -6$/mmbtu and -10$/mmbtu over the last couple of weeks. The US netback to Europe is still estimated approximately 10$/mmbtu higher than the netback to Asia.
- Spot LNG shipping rates have fallen 21% wk/wk as vessel used as floating storage have started to delivery cargoes to terminals according to Spark Commodities. Atlantic basin spot prices on Friday fell from $475k/day to $375k/day and Pacific basin from $356k/day to $97k/day.
- European LNG net imports last week averaged around 450mcm/d.
- TTF DEC 22 down -5.1% at 118€/MWh
- NBP DEC 22 down -2.2% at 282p/th
- JKM Dec 22 down -2.5% at 29.96$/mmbtu
- JKM-TTF Dec 22 up 1.5$/mmbtu at -5.86$/mmbtu
- US Natgas DEC 22 down -5.8% at 6.62$/mmbtu
To read the full story
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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.