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

MNI China Daily Summary: Wednesday, July 24

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

MNI: JAPAN JUNE SERVICES PPI +3.0% Y/Y; MAY REV +2.7%

MNI BRIEF: Japan June Services PPI Rises 3.0% Vs. May's 2.7%

US Treasury Auction Calendar

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

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

Limited Upside to US Natgas on Price vs Coal and Well Restarts: Goldman

NATGAS
Homepagemarkets-real-timeCommoditiesEnergy BulletsBulletUS

US natural gas prices have rallied 30% in the last three weeks with a return above $2/mmbtu in line with expectation according to Goldman Sachs.

  • The rise is driven by a decline in output from producer cuts and maintenance as well as higher LNG terminal feedgas demand and expectations.
  • LNG feedgas has been boosted by the return of Freeport LNG from an extended outage and with no Cheniere plans for heavy maintenance this year.
  • Production curtailments would ultimately lead to lower storage congestion risks for this summer but limited further upside from current levels is expected.
  • Higher gas prices reduce gas competitiveness relative to coal, although more visible in shoulder months, and incentivize the restart of shut-in wells.
118 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 natural gas prices have rallied 30% in the last three weeks with a return above $2/mmbtu in line with expectation according to Goldman Sachs.

  • The rise is driven by a decline in output from producer cuts and maintenance as well as higher LNG terminal feedgas demand and expectations.
  • LNG feedgas has been boosted by the return of Freeport LNG from an extended outage and with no Cheniere plans for heavy maintenance this year.
  • Production curtailments would ultimately lead to lower storage congestion risks for this summer but limited further upside from current levels is expected.
  • Higher gas prices reduce gas competitiveness relative to coal, although more visible in shoulder months, and incentivize the restart of shut-in wells.