MNI China Daily Summary: Wednesday, July 10

MNI BRIEF: China To Investigate EU Trade Actions

MNI BRIEF: China June CPI Hits Three Month Low

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

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

MNI: PBOC Sets Yuan Parity Higher At 7.1342 Weds; -0.53% Y/Y

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

EZ/UK Bond Supply Calendar: Italy, UK Auction on Thursday

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

US Natgas Rises Above $3/mmbtu Ahead of EIA

NATURAL GAS

US Henry Hub front month is trading higher as latest weather reports suggest colder weather for the Eastern US, while feedgas deliveries to US LNG terminals increased on the day. Downside is limited by a drop in demand and higher production.

  • US Natgas NOV 23 up 0.7% at 3.03$/mmbtu
  • US Natgas APR 24 up 0.5% at 3.1$/mmbtu
  • US Natgas OCT 24 up 0.2% at 3.44$/mmbtu
  • Domestic natural gas production yesterday rose to 103bcf/d from 101.67bcf/d the previous day and well above the seasonal norm.
  • US natural gas demand is estimated lower today below the five-year range to 65.86bcf/d, from 66.17bcf/d yesterday. The latest weather forecast has been revised up to above and near normal for the west of the US, while most of Eastern US will face below norm temperatures.
  • Feedgas deliveries to US LNG export facilities rose on the day to 13.79bcf/, compared with 13.67bcf/d yesterday. Deliveries are above the 30-day moving average of 13.39bcf/d. Flows to Freepoint rose back 2.05bcf/d compared with the 30-day moving average of 1.83bcf/d according to Bloomberg.
  • Export flows to Mexico are today estimated at 6.77bcf/d.
  • The latest EIA weekly natural gas report is due later at 15:30BST. Gas storage inventories are expected to see a build of +80.26bcf/d according to a Bloomberg survey.
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.