MNI China Daily Summary: Tuesday, February 11

MNI BRIEF: China To Boost Passenger Train Services

MNI BRIEF: EU To Take "Firm Countermeasures" To US Tariffs

MNI BRIEF: China SME Index Up In January

MNI: PBOC Net Injects CNY33 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1716 Tues; -1.53% Y/Y

MNI: NORWAY Q4 MAINLAND GDP -0.4% Q/Q

MNI: UK BRC JAN BY VALUE SHOP SALES LFL +2.5% YY, TOTAL +2.6% YY

EZ/UK T-Bill Calendar: Spain, Belgium, Finland Due Tuesday

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

GERMANY: Kukies Considers Potential Non-Implementation Of 2024 Suppl' Budget

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NATGAS: Henry Hub Plunges

NATGAS
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Henry Hub has dropped by around 5% on the day despite blizzard conditions hitting the USGC. The sell-off comes as freezing weather over the long-weekend failed to significantly curb gas output, while forecasts expect temperatures to rise and thus cut heating demand next week.

  • US Natgas FEB 25 down 5% at 3.75$/mmbtu
  • US Natgas MAR 25 down 3.7% at 3.35$/mmbtu
  • President Donald Trump issued an order on Monday for the U.S. to resume processing export permit applications for new LNG projects, reversing the pause put in place by Biden.
  • Lower 48 natural gas demand holds at the highest since January 2024 at 136.75bcf/d today, according to Bloomberg. Current cold
  • lower 48 temperatures are forecast to gradually recover back to near normal into next week and possible slightly above in early February.
  • US domestic natural gas production is estimated down to 101.4bcf/d yesterday, according to Bloomberg, with output falling during the cold weather. Output reached a recent high of 104.8bcf/d on Jan. 17.
  • US LNG export terminal feedgas has fallen to 13.07bcf/d today, according to Bloomberg driven by a drop in Cove Point and Cameron feedgas and Elba Island flows back into the local grid so far this week.
  • Export flows to Mexico are up to 6.35bcf/d today, according to Bloomberg.
  • A Reuters survey indicates that US gas stocks drew by 240 bcf last week.
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Henry Hub has dropped by around 5% on the day despite blizzard conditions hitting the USGC. The sell-off comes as freezing weather over the long-weekend failed to significantly curb gas output, while forecasts expect temperatures to rise and thus cut heating demand next week.

  • US Natgas FEB 25 down 5% at 3.75$/mmbtu
  • US Natgas MAR 25 down 3.7% at 3.35$/mmbtu
  • President Donald Trump issued an order on Monday for the U.S. to resume processing export permit applications for new LNG projects, reversing the pause put in place by Biden.
  • Lower 48 natural gas demand holds at the highest since January 2024 at 136.75bcf/d today, according to Bloomberg. Current cold
  • lower 48 temperatures are forecast to gradually recover back to near normal into next week and possible slightly above in early February.
  • US domestic natural gas production is estimated down to 101.4bcf/d yesterday, according to Bloomberg, with output falling during the cold weather. Output reached a recent high of 104.8bcf/d on Jan. 17.
  • US LNG export terminal feedgas has fallen to 13.07bcf/d today, according to Bloomberg driven by a drop in Cove Point and Cameron feedgas and Elba Island flows back into the local grid so far this week.
  • Export flows to Mexico are up to 6.35bcf/d today, according to Bloomberg.
  • A Reuters survey indicates that US gas stocks drew by 240 bcf last week.