US NATGAS: Gulf Coast Natgas Fundamentals
Nov-28 13:36
Cooler-than-normal Houston weather supports Houston Ship Channel (HSC) gas pricing despite a slight HDD downgrade, with Gulf Coast demand outpacing supply amid stronger Permian inflows and robust Southeast outflows, though Mexico exports have eased
- Houston week ahead weather forecasts are calling for cooler-than-normal weather, lending support for HSC. Houston cumulative HDDs decreased by 0.6 compared with the prior forecast.
- Houston cumulative HDDs count for the next 5 days is 40.07, up 9.53 days from the 10-year normal, while the count for the next 14 days is 79.3, down 23.48 days from the 10-year normal.
- Corpus Christi cumulative HDDs count for the next 5 days is 14.1, down -4.66 days from the 10-year normal, while the count for the next 14 days is 22.21, down 44.21 days from the 10-year normal.
- Brownsville cumulative HDDs count for the next 5 days is 0, down 8.68 days from the 10-year normal, while the count for the next 14 days is 0.59, down 33.05 days from the 10-year normal.
- Gulf Coast demand is 21.2 Bcf/d today, up 0.02 Bcf/d from yesterday and up 0.47 Bcf/d from last week.
- Gulf Coast supply is 18.5 Bcf/d today, down 0.2 Bcf/d from yesterday and up 0.48 Bcf/d from last week.
- Permian inflows are 10.3 Bcf/d today, down 0.03 Bcf/d from yesterday and up 1.01 Bcf/d from last week.
- Gulf Coast exports to Mexico reached 2.9 Bcf/d today, down 0.08 Bcf/d from yesterday and down 0.48 Bcf/d from last week.
- MidCon net imports are 2.1 Bcf/d today, up 0.08 Bcf/d from yesterday and down 0.55 Bcf/d from last week.
- Outflows to the Southeast are 4.7 Bcf/d today, up 0.42 Bcf/d from yesterday and up 1.39 Bcf/d from last week.
- All fundamentals data is BNEF. Current figures as of publishing.
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US: MNI POLITICAL RISK - Trump Xi Meeting Confirmed For Thursday
Oct-29 13:34
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- President Donald Trump is in South Korea for the final leg of his Asia trip. Trump said a trade with Seoul was "pretty much finalised.”
- Trump confirmed he will meet Chinese President Xi Jinping on the margins of APEC on Thursday. The meeting is likely to take place at 22:00 ET (Wednesday) 02:00 GMT 11:00 local. Trump predicted the meeting could go for three or four hours.
- The prevailing view among analysts is that the tariff and export control truce will be extended, but a more comprehensive trade deal is likely to remain elusive. Trump was bullish that a deal would be struck on Fentanyl, opening the door for a reduction in tariffs on Chinese exports. Trump also hinted at providing China access to Nvidia’s powerful Blackwell AI chip.
- Five Republican senators voted with Democrats to pass a messaging resolution blocking Trump’s Brazil tariffs, showing there is a workable anti-Trump coalition in the Senate.
- Senate Democrats blocked the House-passed Republican government funding bill for the 13th time. Bipartisan talks have “picked up” but there doesn’t appear to be an immediate offramp out of the shutdown.
- The Gaza ceasefire is facing a major test after Israeli strikes.
- A bipartisan coalition of governors urged Congress to pass legislation easing energy permitting rules.
- The US struck four more alleged drug vessels in the Eastern Pacific.
- Chart of the Day: 'Lopsided' US trade deals could push Southeast Asian nations closer to China.
Full Article: US DAILY BRIEF
SOFR OPTIONS: Call Spread vs Put Spread
Oct-29 13:29
0QM6 96.50/96.00ps vs 97.50/98.00cs, bought the cs for flat in 5k.
EURIBOR OPTIONS: Put Spread calendar Spread
Oct-29 13:22
ERU6 98.00/97.87ps vs 0RU6 97.81/97.68ps, bought the mid for 0.5 in 9.5k.
