MNI China Daily Summary: Monday, November 18

MNI BRIEF: China’s October Youth Employment Rate Remains High

MNI BRIEF: Beijing Retail Sales Growth Decline Narrows In Oct

MNI: PBOC Net Injects CNY38.9 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Lower At 7.1907 Mon; +0.11% Y/Y

CHINA PBOC CONDUCTS CNY172.6 BLN VIA 7-DAY REVERSE REPOS MON

Japan Sep Machine Orders -0.7% M/M

EZ/UK Bond Supply Calendar: EU Synd; SK, BE Auction on Monday

MNI: US SEP BUSINESS INVENTORIES +0.1%; SALES +0.3%

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

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Henry Hub Holding Gains

NATURAL GAS

Henry Hub continues to trade higher during the day, boosted by a general geopolitical risk premium bolstering global gas markets. Colder weather forecasts have also provided support on the day to US natural gas prices.

  • US Natgas FEB 24 up 4.2% at 2.68$/mmbtu
  • US Natgas JUL 24 up 1.6% at 2.76$/mmbtu
  • A terrorist attack near the grave site of Iranian commander Qassem Soleimani in the central Iranian city of Kerman had added to tensions in the Middle East, already heightened due to yesterday's suspected Israeli drone attack which killed senior Hamas leader Saleh al-Arouri in the southern suburbs of Beirut.
  • Lower 48 natural gas demand is relatively unchanged on the day at 98.06bcf/d but well above the five-year average of 93.8bcf/d according to Bloomberg.
  • The latest weather forecast shows below normal temperatures spreading across from the west in the coming week but with above normal holding on the East Coast. Heating demand for the week to Jan 6 is forecast to be 31 HDD below the long term normal at 174 according to NOAA.
  • US natural gas production today fell to 103.69bcf/d, down from 104.97bcf/d yesterday and below the 30-day moving average of 105.05bcf/d.
  • Feedgas supplies to US LNG export terminals are down to 14.02bcf/d, from 14.72bcf/d yesterday and below the 30-day moving average of 14.63bcf/d. The drop in deliveries is due to a decline in flows to the Sabine Pass terminal to 4.32bcf/d, from 4.97bcf/d according to Bloomberg.
Energy BulletsCommodities
Energy BulletsCommodities

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