MNI China Daily Summary: Tuesday, December 10

MNI BRIEF: China Nov Exports Slows, Imports Slide

MNI BRIEF: China Crude Oil Imports Accelerate In November

CHINA NOV EXPORTS +6.7% Y/Y VS MEDIAN +8.9% Y/Y: CUSTOMS

MNI: CHINA YTD EXPORTS +6.7% Y/Y IN YUAN TERM: CUSTOMS

MNI: PBOC Net Injects CNY90.3 Bln via OMO Tuesday

MNI: GERMAN NOV CPI +2.2 % Y/Y

MNI: NORWAY NOV CORE CPI +0.1% M/M, +3% Y/Y

MNI: NORWAY NOV CPI +0.3% M/M, +2.4% Y/Y

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

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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Henry Hub Remains Near Daily Lows

NATGAS

Henry Hub is holding near its intraday lows after a slightly higher than expected US storage injection, coupled with strong output and

  • US Natgas AUG 24 down 1.8% at 2.08$/mmbtu
  • US Natgas JAN 25 down 1.6% at 3.49$/mmbtu
  • The EIA weekly gas inventories for the week ending July 19 showed an injection of 22bcf compared to the Bloomberg expectation of +11bcf and the seasonal norm of +38bcf.
  • US storage inventories however still hold a strong surplus of 456bcf, with total stocks at 3,231bcf compared to the previous five-year average of 2,775bcf.
  • US LNG export terminal feedgas flows are today at 12.52bcf/d according to Bloomberg with Freeport LNG supply recovering to 1.24bcf/d after a dip to 0.49bcf/d as reports suggested a reduction in power supply to the terminal yesterday.
  • Freeport LNG will likely resume full operations at three trains in early August according to a Platts source.
  • US domestic natural gas production was almost unchanged yesterday at 103.0bcf/d
  • Domestic lower 48 natural gas demand edged down to 76.4bcf/d today according to Bloomberg.
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