MNI China Daily Summary: Friday, December 27

MNI BRIEF: BOJ: Rate Hike Chance Nearing; Mull Patiently

MNI: PBOC Net Injects CNY6.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1893 Fri; -2.12% Y/Y

MNI JAPAN NOV FACTORY OUTPUT DROPS 2.3% M/M; OCT +2.8%

MNI JAPAN NOV JOBLESS RATE AT 2.5%, UNCHANGED FROM OCT

US EIA:NAT GAS STORAGE -93 BCF TO 3,529 BCF DEC 27 WK

MNI: US JOBLESS CLAIMS -1K TO 219K IN DEC 21 WK

MNI: US REDBOOK: DEC STORE SALES +5.0% V YR AGO MO

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

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

NATGAS: EIA US Gas Storage Injection of 4bcf Expected: BNEF

NATGAS
USEnergy BulletsNorth AmericaBulletCommodities

The US EIA gas storage data is due at 12:00ET (17:00GMT); a day early due to the Thanksgiving holiday. Storage is expected to show an injection of 4bcf for the week ending Nov. 22, according to BNEF.

  • A Bloomberg survey average suggests a withdrawal of 1bcf on the week while a WSJ survey shows withdrawal of 2bcf. The previous five year average suggests withdrawals of around 30bcf.
  • EIA data last week showed total working gas in storage was at 3,969bcf after a small decrease of 3bcf on the week. US storage was 239bcf higher than the seasonal five year average of 3,730bcf and 141bcf higher than levels seen a year earlier.
  • BNEF estimate total consumption up by 0.6bcf/d on the week to 88.0bcf/d with higher residential/commercial demand amid colder temperatures but partially offset by lower power generation and industrial demand.
  • Total supply is estimated to rebound by 2.0bcf/d to 89.0bcf/d due to higher production although the week saw a dip in Canadian imports.
  • The early view for the week ending Nov. 29 from BNEF is for a withdrawal of 26bcf.
    • US Natgas JAN 25 down 6.2% at 3.25$/mmbtu
182 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.

The US EIA gas storage data is due at 12:00ET (17:00GMT); a day early due to the Thanksgiving holiday. Storage is expected to show an injection of 4bcf for the week ending Nov. 22, according to BNEF.

  • A Bloomberg survey average suggests a withdrawal of 1bcf on the week while a WSJ survey shows withdrawal of 2bcf. The previous five year average suggests withdrawals of around 30bcf.
  • EIA data last week showed total working gas in storage was at 3,969bcf after a small decrease of 3bcf on the week. US storage was 239bcf higher than the seasonal five year average of 3,730bcf and 141bcf higher than levels seen a year earlier.
  • BNEF estimate total consumption up by 0.6bcf/d on the week to 88.0bcf/d with higher residential/commercial demand amid colder temperatures but partially offset by lower power generation and industrial demand.
  • Total supply is estimated to rebound by 2.0bcf/d to 89.0bcf/d due to higher production although the week saw a dip in Canadian imports.
  • The early view for the week ending Nov. 29 from BNEF is for a withdrawal of 26bcf.
    • US Natgas JAN 25 down 6.2% at 3.25$/mmbtu