MNI BRIEF: Inflation Risks Now Shifted To Downside-BOE Ramsden

MNI: Goolsbee Says Stalled Inflation Means Wait Before Moving

MNI China Daily Summary: Friday, April 19

MNI BRIEF: China Hog Market More Balanced In Q2 - Ministry

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

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: BAKER HUGHES US RIG COUNT 619; OIL RIGS 511; GAS RIGS 106

EZ/UK Bond Supply Calendar: EU, UK Synd W/C 22 Apr, BoE APF Mon

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

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

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

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

US Extends Decline to Fall 26% From High Last Week

NATGAS

Front month US Natgas declines once again to the lowest since April 2021. Prices have now fallen 26% from a high last week and 62% from a high in December due to high production, healthy storage, moderate demand and curtailed LNG exports.

    • US Natgas MAR 23 down -1.8% at 2.63$/mmbtu
  • Production dipped slightly yesterday to 99.76bcf/d but remains above levels around 96bcf/d this time last year. EIA expect natural gas production in both the Permian and Haynesville regions to grow with the completion of pipeline infrastructure expansions in 2023 and 2024. Earlier this month the EIA drilling productivity report forecast natural gas output in the seven US shale basins to increase by 0.466bcf/d to 96.656bcf/d in February.
  • Domestic demand is today expected above normal at 110.9bcf/d. The latest two week NOAA weather forecast shows above normal temperatures across central and eastern areas but below normal in the west.
  • Deliveries to US LNG export terminals are today expected at 12.8bcf/d. Freeport LNG is still offline with many analysts not expecting a restart until at least the end of Feb.
Energy BulletsCommoditiesUS
Energy BulletsCommoditiesUS

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.