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

MNI BRIEF: Trudeau Blames NIMBYs For National Housing Squeeze

MNI BRIEF: Fed Must Keep Higher Rate Through Next Year- IMF

MNI: Canada's 2022-23 Budget Deficit Is Near Forecast

MNI: TREASURY GENERAL ACCOUNT $38.8B MAY 25 VS $49.5B PREV DAY

MNI DATA FORECASTS: EZ Inflation, US Payrolls In Focus

EZ/UK Bond Supply Calendar: Italy BTP/CCTeu Auction on Tuesday

(RPT)MNI INTERVIEW: Fed Needs Better QE Guardrails-Fed Adviser

MNI: Canada Resilient To US Debt Ceiling Clash- Freeland

MNI BRIEF: BOC Defends 2% Target, Senate Asks About Raising It

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
Trending Top 5
Market News Topics

US Natgas Reverses Following Spike Late Friday

NATGAS
BulletEnergy BulletsHomepageCommoditiesUS

US Natgas is back trading near levels seen mid last week after spiking ahead of the close on Friday before seeing a big reversal.

    • US Natgas APR 23 down -10.2% at 2.7$/mmbtu
  • Front month rallied from just below 2$/mmbtu on 22 Feb up to between 2.7$/mmbtu and 2.8$/mmbtu for most of last week before spiking up as high as 3$/mmbtu. Prices have been supported by cooler weather across the US and with gradual increase in supply to the Freeport LNG terminal.
  • Low winter demand has allowed for high gas storage levels in Europe and Asia to ease pressure global LNG supplies. Uncertainty remains over China demand this year after the announcement over the weekend of more modest growth targets for 2023 and a greater role for coal for power generation. Strong US LNG supplies are still likely to be required over the summer to help restock European supplies ahead of next winter.
152 words

To read the full story

Why Subscribe to

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.

US Natgas is back trading near levels seen mid last week after spiking ahead of the close on Friday before seeing a big reversal.

    • US Natgas APR 23 down -10.2% at 2.7$/mmbtu
  • Front month rallied from just below 2$/mmbtu on 22 Feb up to between 2.7$/mmbtu and 2.8$/mmbtu for most of last week before spiking up as high as 3$/mmbtu. Prices have been supported by cooler weather across the US and with gradual increase in supply to the Freeport LNG terminal.
  • Low winter demand has allowed for high gas storage levels in Europe and Asia to ease pressure global LNG supplies. Uncertainty remains over China demand this year after the announcement over the weekend of more modest growth targets for 2023 and a greater role for coal for power generation. Strong US LNG supplies are still likely to be required over the summer to help restock European supplies ahead of next winter.