MNI: PBOC Conducts CNY2 Bln Via OMO Thurs; Liquidity Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS THURS

MNI: PBOC Sets Yuan Parity Lower At 7.1339 Thurs; -1.06% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1339 THURS VS 7.1342

MNI BRIEF: Bank of Korea Keeps Policy Rate At 3.50%

MNI: BANK OF KOREA KEEPS POLICY RATE AT 3.50%: PRESS

Japan May Machine Orders -3.2% M/M

MNI JAPAN MAY CORE MACHINE ORDERS -3.2% M/M; APRIL -2.9%

EZ/UK T-Bill Calendar: 1/3/6-Month UKTB Auction on Friday

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

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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

Natural Gas End of Day Summary: Henry Hub Falls

NATURAL GAS

Henry Hub front month is now trading lower, despite a slightly smaller than expected build in US natural gas storage inventories and rising feedgas flows to LNG terminals.

  • US Natgas NOV 23 down -1.5% at 3.33$/mmbtu
  • US Natgas APR 24 down -0.2% at 3.27$/mmbtu
  • The latest EIA weekly gas inventories for the week ending 6 Oct showed a build of +84bcf compared to a Bloomberg survey expecting a +86bcf build and the five-year average for this time of year of +101bcf.
  • The total US inventories surplus has closed slightly again this week, but stocks are still above normal at 3,529bcf compared to the average of 3,344bcf.
  • Feedgas flows to US LNG export facilities are today estimated at the highest since April at 13.93bcf/d according to Bloomberg boosted by the return of Cove Point LNG flows suggesting the end of maintenance.
  • Domestic natural gas demand is down near seasonal normal levels at 66.3bcf/d today according to Bloomberg.
  • European natural gas demand is expected to be 17% below the 2017-2021 average, while a slow demand recovery is expected between 2024 and 2026 according to ICIS.
  • German natural gas consumption last week stood 37% below the 2018-2021 average, largely driven by lower demand from households and small businesses, Bnetza data showed.
  • Norwegian pipeline supplies to Europe are today nominated up to 326.6mcm/d.
  • Germany could still run into natural gas supply problems this winter despite high gas storage levels, storage operators group INES said, cited by Reuters.
  • LNG net import flows are estimate at 357.8mcm/d on 10 Oct according to Bloomberg after rising above the recent average of around 295mcm/d to 350mcm/d the previous day.
  • India’s GAIL has issued a swap tender offering one LNG cargo for loading in the US in exchange for one LNG cargo for delivery to India in January, according to Reuters sources.
  • US LNG exports could rise about 11% yr/yr to approximately 89m tons (11.75bcf/d) in 2023 according to Bloomberg analysis.
  • Pakistan is interested in receiving LNG from Russia, according to Russia’s Energy Minister Nikolay Shulginov
Energy BulletsCommodities
Energy BulletsCommodities

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.