MNI China Daily Summary: Thursday, July 25

MNI BRIEF: Japan Govt Keeps Econ View, Cuts Exports

MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1321 THURS VS 7.1358

Aircraft-Led Durables Collapse Masks Rebound In Core Orders

MNI: BELGIUM JUL BNB BUSINESS SURVEY -12.3

MNI: US Q2 GDP +2.8%

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

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Henry Hub Regains Ground

NATGAS
Homepagemarkets-real-timeCommoditiesEnergy BulletsBullet

Henry Hub front month is approaching the intraday highs of yesterday of $2.798/MMBtu, as continued support comes from lower production levels year on year and recovering LNG feedgas supplies.

  • Expectations of a below-average inventory injection last week will also be supportive.
  • US Natgas JUN 24 up 4.3% at 2.79$/mmbtu
  • US Natgas NOV 24 up 3.8% at 3.32$/mmbtu
  • US domestic natural gas production was yesterday estimated unchanged at 99.9bcf/d according to Bloomberg and still below average output of 101bcf/d in May 2023.
  • US terminal feedgas flows are today estimated at 12.96bcf/d according to Bloomberg with flows to Sabine Pass and Cameron still below normal levels.
  • Domestic natural gas demand is today at 67.3bcf/d according to Bloomberg compared to the seasonal normal of just over 62bcf/d.
  • The latest 6–14-day NOAA forecast continues to show above normal temperatures on the Gulf Coast and with western areas also turning warmer relative to the outlook yesterday.
  • The rally in US natural gas futures is likely to be short-lived with a possible return to $2.50/MMBtu levels before more clarity appears regarding summer weather, Citi Research said in a note, cited by Dow Jones.
187 words

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.

Henry Hub front month is approaching the intraday highs of yesterday of $2.798/MMBtu, as continued support comes from lower production levels year on year and recovering LNG feedgas supplies.

  • Expectations of a below-average inventory injection last week will also be supportive.
  • US Natgas JUN 24 up 4.3% at 2.79$/mmbtu
  • US Natgas NOV 24 up 3.8% at 3.32$/mmbtu
  • US domestic natural gas production was yesterday estimated unchanged at 99.9bcf/d according to Bloomberg and still below average output of 101bcf/d in May 2023.
  • US terminal feedgas flows are today estimated at 12.96bcf/d according to Bloomberg with flows to Sabine Pass and Cameron still below normal levels.
  • Domestic natural gas demand is today at 67.3bcf/d according to Bloomberg compared to the seasonal normal of just over 62bcf/d.
  • The latest 6–14-day NOAA forecast continues to show above normal temperatures on the Gulf Coast and with western areas also turning warmer relative to the outlook yesterday.
  • The rally in US natural gas futures is likely to be short-lived with a possible return to $2.50/MMBtu levels before more clarity appears regarding summer weather, Citi Research said in a note, cited by Dow Jones.