NATGAS: BNEF Revises Down Europe Gas Storage Forecast
May-29 07:57
BloombergNEF revised down its gas storage forecast for Europe by November 1 from 94% to 86% in its latest release.
- The projection still aligns with the provisionally approved 83% gas storage target.
- The revision has been driven by reduced projections for LNG supplies to Europe for the rest of the summer, reflecting an upward revision in imports to mainland China and South Korea, combined with expectations of lower global LNG supply.
- China’s LNG imports were revised higher after the US and China cut tariffs on May 12.
- South Korea’s LNG imports were revised up based on lower coal generation.
- Global LNG supply was revised slightly lower reflecting lower exports from Sabine Pass and Malaysia.
- Supply risks remain, particularly is above-average temperatures take hold in Asia. Norway’s gas supply to Europe may also face challenges.
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GREECE: Greece Applies For EU Fiscal Escape Clause
Apr-29 07:53
Latest From our Policy Team: "Greece Applies For EU Fiscal Escape Clause"
- "Greece will apply to the European Commission for activation of a national escape clause from the bloc's fiscal rules, Greek Finance Minister Kyriakos Pierrakakis said on Tuesday, adding that the move would free up EUR600 million of fiscal space which will be used to lower the tax burden on the country's middle classes".
- "Greece will become only the second EU country to apply for the escape clause, following Germany's formal application Monday. The Commission has said that it expects a "lot more" countries to apply during the coming hours and days as the Wednesday deadline looms, although the EC has stressed that the deadline is a "soft" one".
EQUITIES: Latest EU Bank Vol Options
Apr-29 07:53
- SX7E (20th Mar) 155^, sold at 44.4 in 7.5k.
- SX7E (19th Sep) 155^ sold at 38.2 in 6k.
MNI EXCLUSIVE: MNI discusses the difficulties faced by China's exporters
Apr-29 07:52
MNI discusses the difficulties faced by China's exporters --- On MNI Policy MainWire now, for more details please contact sales@marketnews.com
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