MNI China Daily Summary: Friday, November 22

UK NOV FLASH MANUF PMI 48.6 (FCST: 50.0); OCT 49.9

EUROZONE NOV FLASH MANUF PMI 45.2 (FCST: 46.0); OCT 46.0

MNI: PBOC Net Drains CNY345.9 Bln via OMO Friday

MNI BRIEF: Fed Should Explore Central Clearing At SRF-Hammack

MNI China Daily Summary: Thursday, November 21

GERMANY NOV FLASH MANUF PMI 43.2 (FCST: 43.0); OCT 43.0

FRANCE NOV FLASH MANUF PMI 43.2 (FCST:44.5); OCT 44.5

MNI: GERMANY Q3 FINAL GDP 0.1% Q/Q (VS FCST 0.2%)

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

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NATGAS: Natural Gas End of Day Summary: Henry Hub Rises

NATGAS
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Henry Hub has closed higher, with cooling weather in H2 November offsetting the recovery in production levels. 

  • US Natgas DEC 24 up 3% at 2.99$/mmbtu
  • US Natgas MAY 25 up 1.8% at 2.89$/mmbtu
  • WSJ and Reuters surveys both showed that US natural gas inventories likely increased by 44 Bcf in the week to Nov. 8.
  • US domestic natural gas production has rebounded back up to 100.4bcf/d today, according to Bloomberg.
  • US dry natural gas production across 2024 has been revised down 0.2 bcf/d to 103.3 bcf/d, according to the EIA’s STEO.
  • Lower 48 natural gas demand is up again to 81.5bcf/d to hold roughly in line with previous five-year average, according to Bloomberg.
  • The NOAA forecast shows a mixed picture with below normal temperatures in the west spreading further across the country in the coming two weeks but with above normal temperatures mostly holding in the east.
  • US LNG export terminal feedgas is estimated up to 13.74bcf/d, BNEF shows.
  • LNG feedgas demand from new facilities under construction in the US will grow to 1.1 bcf/d by March 2025, according to BNEF.
  • US Henry Hub spot prices for 2024 have been cut by 11 cents/MMBtu to $2.17/MMBtu, according to the EIA in its November Short Term Energy Outlook.
  • Devon Energy is now selling most of its Permian natural gas production outside of Waha: Natural Gas Intelligence.
  • LNG stockpiles held by Japanese utilities rose 4.25% w/w on Nov. 10 to 2.21m mt.
  • Venture Global LNG said on Tuesday it had asked federal regulators for permission to introduce LNG to its first unit at its Plaquemines facility in Texas.
  • MNI Gas Weekly: Trump Victory Brews Uncertainty for Gas Markets: See pdf here: https://roar-assets-auto.rbl.ms/files/69145/MNI%20Gas%20Weekly%20-%20Trump%20Victory%20Brews%20Uncertainty%20for%20Gas%20Markets.pdf
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Henry Hub has closed higher, with cooling weather in H2 November offsetting the recovery in production levels. 

  • US Natgas DEC 24 up 3% at 2.99$/mmbtu
  • US Natgas MAY 25 up 1.8% at 2.89$/mmbtu
  • WSJ and Reuters surveys both showed that US natural gas inventories likely increased by 44 Bcf in the week to Nov. 8.
  • US domestic natural gas production has rebounded back up to 100.4bcf/d today, according to Bloomberg.
  • US dry natural gas production across 2024 has been revised down 0.2 bcf/d to 103.3 bcf/d, according to the EIA’s STEO.
  • Lower 48 natural gas demand is up again to 81.5bcf/d to hold roughly in line with previous five-year average, according to Bloomberg.
  • The NOAA forecast shows a mixed picture with below normal temperatures in the west spreading further across the country in the coming two weeks but with above normal temperatures mostly holding in the east.
  • US LNG export terminal feedgas is estimated up to 13.74bcf/d, BNEF shows.
  • LNG feedgas demand from new facilities under construction in the US will grow to 1.1 bcf/d by March 2025, according to BNEF.
  • US Henry Hub spot prices for 2024 have been cut by 11 cents/MMBtu to $2.17/MMBtu, according to the EIA in its November Short Term Energy Outlook.
  • Devon Energy is now selling most of its Permian natural gas production outside of Waha: Natural Gas Intelligence.
  • LNG stockpiles held by Japanese utilities rose 4.25% w/w on Nov. 10 to 2.21m mt.
  • Venture Global LNG said on Tuesday it had asked federal regulators for permission to introduce LNG to its first unit at its Plaquemines facility in Texas.
  • MNI Gas Weekly: Trump Victory Brews Uncertainty for Gas Markets: See pdf here: https://roar-assets-auto.rbl.ms/files/69145/MNI%20Gas%20Weekly%20-%20Trump%20Victory%20Brews%20Uncertainty%20for%20Gas%20Markets.pdf