MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1843 Weds; -1.22% Y/Y

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

MNI: US MBA: MARKET COMPOSITE +5.4% SA THRU DEC 06 WK

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

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: Henry Hub Steady After Pull Back from High Near $3/mmbtu

NATGAS
BulletEnergy BulletsCommodities

Henry Hub front month futures have pulled back from the highest since mid June of $3.019/mmbtu on Friday but maintain the bullish trend in place since late August amid a declining storage surplus ahead of the winter heating season.

  • Hurricane Milton is intensifying as it heads towards Florida but the impact on energy appears to be limited.
  • US LNG export terminal feedgas supply is estimated at 12.22bcf/d today, BNEF shows, with Cove Point supply still halted amid maintenance.
  • Lower 48 natural gas demand remains above the previous five year average estimated at 70.5bcf/d today, according to Bloomberg. Temperatures across the lower 48 are generally forecast to remain above normal although following the seasonal trend lower. The NOAA 6-14 day forecast shows above normal temperatures in central and western areas but closer to normal on the East Coast.
  • US domestic natural gas production is estimated at 101.3bcf/d on Oct. 6, according to Bloomberg, compared to an average of 101.4bcf/d over the previous week.
  • Export flows to Mexico are today estimated at 6.1bcf/d, according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures volume was 460k on Oct. 4.
    • US Natgas NOV 24 down 1.5% at 2.81$/mmbtu
    • US Natgas DEC 24 down 1% at 3.27$/mmbtu
    • US Natgas OCT 25 down 0.2% at 3.43$/mmbtu
202 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 futures have pulled back from the highest since mid June of $3.019/mmbtu on Friday but maintain the bullish trend in place since late August amid a declining storage surplus ahead of the winter heating season.

  • Hurricane Milton is intensifying as it heads towards Florida but the impact on energy appears to be limited.
  • US LNG export terminal feedgas supply is estimated at 12.22bcf/d today, BNEF shows, with Cove Point supply still halted amid maintenance.
  • Lower 48 natural gas demand remains above the previous five year average estimated at 70.5bcf/d today, according to Bloomberg. Temperatures across the lower 48 are generally forecast to remain above normal although following the seasonal trend lower. The NOAA 6-14 day forecast shows above normal temperatures in central and western areas but closer to normal on the East Coast.
  • US domestic natural gas production is estimated at 101.3bcf/d on Oct. 6, according to Bloomberg, compared to an average of 101.4bcf/d over the previous week.
  • Export flows to Mexico are today estimated at 6.1bcf/d, according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures volume was 460k on Oct. 4.
    • US Natgas NOV 24 down 1.5% at 2.81$/mmbtu
    • US Natgas DEC 24 down 1% at 3.27$/mmbtu
    • US Natgas OCT 25 down 0.2% at 3.43$/mmbtu