BOC SAYS DOESN'T NEED TO ALTER PATH OF QT RIGHT NOW

this is a test, please ignore

MNI BRIEF: Text of Bank Of Canada Interest-Rate Decision

MNI China Daily Summary: Wednesday, July 24

MNI: PBOC Net Drains CNY203.9 Bln Via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1358 Weds; -0.98% Y/Y

US Treasury Auction Calendar

EZ/UK Bond Supply Calendar: BTP Short Term and BTPeis on Thursday

EZ/UK T-Bill Calendar: Italy, UK Auction on Friday

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 Relinquishes Earlier Gains

NATGAS
Homepagemarkets-real-timeCommoditiesEnergy BulletsBullet

US Henry Hub has reversed its earlier gains to move rangebound after a larger than expected natural gas storage injection in the latest EIA data. Prior to the data release, Henry Hub had been supported by warmer weather forecasts expected to boost cooling demand.

  • US Natgas JUL 24 up 0% at 2.76$/mmbtu
  • US Natgas DEC 24 down 0.1% at 3.64$/mmbtu
  • The EIA weekly gas inventories for the week ending May 31 showed an injection of 98bcf compared to the expectation for an injection of 92bcf according to a Bloomberg survey and the seasonal normal injection of 105bcf.
  • US storage inventories continue to hold a strong surplus with total stocks at 2,893bcf compared to the previous five-year average of 2,312bcf.
  • Domestic natural gas demand is holding above the seasonal five year average at 67.9bcf/d according to Bloomberg.
  • The latest NOAA forecast is slightly warmer in the 8-14 days period with above normal temperatures now expected across most of the US replacing the below normal in eastern areas in the 6-10 day period
170 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.

US Henry Hub has reversed its earlier gains to move rangebound after a larger than expected natural gas storage injection in the latest EIA data. Prior to the data release, Henry Hub had been supported by warmer weather forecasts expected to boost cooling demand.

  • US Natgas JUL 24 up 0% at 2.76$/mmbtu
  • US Natgas DEC 24 down 0.1% at 3.64$/mmbtu
  • The EIA weekly gas inventories for the week ending May 31 showed an injection of 98bcf compared to the expectation for an injection of 92bcf according to a Bloomberg survey and the seasonal normal injection of 105bcf.
  • US storage inventories continue to hold a strong surplus with total stocks at 2,893bcf compared to the previous five-year average of 2,312bcf.
  • Domestic natural gas demand is holding above the seasonal five year average at 67.9bcf/d according to Bloomberg.
  • The latest NOAA forecast is slightly warmer in the 8-14 days period with above normal temperatures now expected across most of the US replacing the below normal in eastern areas in the 6-10 day period