MNI BRIEF: PBOC Sets A New Tool To Bail Out Property Sector

MNI BRIEF: PBOC Abolishes Lower Housing Mortgage Limit

MNI BRIEF: China To Acquire Housing, Land Stocks From Developers

MNI BRIEF: China April Data Shows Insufficient Demand - NBS

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

MNI: PBOC Sets Yuan Parity Higher At 7.1045 Fri; -3.53% Y/Y

Final Data Confirms Broad Deceleration Seen In April Flash HICP

MNI: EUROZONE APR FINAL HICP +0.6% M/M, +2.4% Y/Y

RBNZ Data Watch

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

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

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Henry Hub Down but Rebounds from Earlier Low

NATURAL GAS

Henry Hub remains down compared to the previous close but has regained some ground after falling to an intraday low of $2.767/MMBtu, following a larger than expected build in US stockpiles. Prices had been trading higher earlier in the day amid an expected draw in stocks.

  • US Natgas JAN 24 down -0.3% at 2.8$/mmbtu
  • US Natgas JUN 24 down -0.4% at 2.8$/mmbtu
  • The EIA weekly gas inventories for the week ending 24 Nov showed a net build of +10bcf compared to the expectation for a draw of -5bcf according to a Bloomberg survey and the seasonal normal draw of -41bcf.
  • The total US inventories remain well above season normal levels at 3,836bcf compared to the average of 3,542bcf.
  • Adding further downside are weaker Feedgas flows to US LNG export terminals today, estimated down to 13.65bcf/d according to Bloomberg with a 0.9bcf/d drop in Sabine Pass supplies from yesterday.
  • Feedgas flows to the Sabine Pass LNG terminal, the largest in the USA, have fallen for the second time in a week, with the drop indicating at least one train could be down, according to Bloomberg.
  • US lower 48 natural gas demand has today declined again to 91.4bcf/d according to Bloomberg from the peak of 107.8bcf/d on Nov 28.
  • Domestic natural gas production was yesterday around 105.1bcf/d compared to the record high of 106.5bcf/d on Nov 27
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.