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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.
NATURAL GAS
Milder weather forecasts into the start of 2024 have pushed Henry Hub to a six-month low, while weak demand and record output add further downside.
- US Natgas JAN 24 down -8.4% at 2.36$/mmbtu
- US Natgas JUN 24 down -7.5% at 2.38$/mmbtu
- Meanwhile, the March-April US natgas spread, known as the widowmaker due to volatility, briefly turned negative, demonstrating ample winter supply, Bloomberg said. It is currently at a 0.1 cents/MMBtu premium.
- Above-normal temperatures are expected to dominate most of North America for at least the next 10 days and beyond, according to a note by commercial forecaster Atmospheric G2.
- The total US inventories remain well above season normal levels at 3,719bcf compared to the average of 3,509bcf.
- Domestic natural gas production is today estimated at 106.0bcf/d according to Bloomberg with data showing a record 106.55bcf/d on Dec 8 last week.
- Demand from US LNG export terminals is strong with feedgas supplies at 14.8bcf/d according to Bloomberg after reaching a record high of 15.1bcf/d yesterday.
Source: Bloomberg
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.
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