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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.
NATGAS
US Natgas resumes the recovery higher with increasing pipeline natural gas supplies to the Freeport LNG terminal and with the latest NOAA forecast still showing below normal temperatures across the US.
- US Natgas APR 23 up 2% at 2.82$/mmbtu
- Feedgas to the Freeport terminal is today estimated by Bloomberg at around 1.48 Bcf/day suggesting it is heading toward full operation of two liquefaction trains. Flows were up around 2.1bcf/d with all three trains operational before the fire last June. Another sign of the ramp up in operation is the departure of what looks to be a fully laden cargo to the UK unlike some earlier partial loadings. Total natural gas deliveries to US terminals are today estimated at a record high of 14.06bcf/d according to Bloomberg.
- Cold weather in the west is stretching across the country during the two week forecast with temperatures in the east falling below normal from about 8 Mar. Domestic demand is today estimated near normal at 85.7bcf/d.
- A dip in natural gas production in recent days to around 99.7bcf/d yesterday has added to the price support.
- EIA weekly gas inventory data yesterday showed a -81bcf draw compared to the 5-year average for this time of year of -173bcf. Total US inventories are above the five year average at 2,114bcf.
Source: Bloomberg
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.
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