US NATGAS: Henry Hub Resumes Gains
Sep-02 12:06
Henry Hub is rising today amid a fall in production and lower net imports from Canada. This is offsetting the weaker LNG feedgas and falling consumption.
- US Natgas OCT 26 up 0.5% at 2.92$/MMBtu
- US Natgas NOV 26 up 0.5% at 3.05$/MMBtu
- Regarding weather, the NOAA 6-14 charts show above normal temperatures across much of the L48 but with at or slightly below normal in the Pacific region expanding compared to the previous forecast.
- US dry gas consumption is 2.4 Bcf/d lower today at 88.2 Bcf/d compared to the previous five-year average of 77.5 Bcf/d, and the 30-day average of 89.5 bcf/d, MNI shows.
- MNI data show LNG terminal feedgas demand 0.58 Bcf/d lower at 18.77 Bcf/d today with weaker flows at Sabine Pass, Cameron, and Calcasieu Pass being moderated slightly by a rise at Golden Pass.
- L48 production is currently estimated at 111.5 Bcf/d today compared to 113.9 Bcf/d yesterday and the 30-day average of 113.2 Bcf/d, MNI data shows.
- Pipeline exports to Mexico are 0.2 Bcf/d lower today at 7.8 Bcf/d today. This compares to the 30-day average of 7.7 Bcf/d.
- Net imports from Canada are 0.3 Bcf/d lower today at 5.0 Bcf/d but are in line with the 30-day average of 5.0 Bcf/d.
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SPAIN AUCTION PREVIEW: On offer this week
Aug-03 12:02
Spain has announced it will be looking to sell a combined E5.0-6.0bln of the following Bono / Oblis at its auction this Thursday, August 6:
- the 2.60% May-31 Bono (ISIN: ES0000012Q16)
- the 3.00% Jan-33 Obli (ISIN: ES0000012P74)
- the 3.40% Oct-36 Obli (ISIN: ES0000012S22)
Spain has also announced it will be looking to sell E250-750mln of the 2.05% Nov-39 Obli-Ei (ISIN: ES0000012M69) at that auction.
Additionally, Spain has announced it will be looking to sell a combined E5.5-6.5bln of the following letras at its auction tomorrow, August 4:
- the 6-month Feb 5, 2027 letras
- the new 12-month Aug 6, 2027 letras
MNI: US 31 JUL SECURED OVERNIGHT FINANCING RATE 3.66% (+1BP VS PRIOR)
Aug-03 12:00
- MNI: US 31 JUL SECURED OVERNIGHT FINANCING RATE 3.66% (+1BP VS PRIOR)
- SOFR PERCENTILES: 25TH 3.64% (+1BP); 1ST 3.60% (UNCH)
- SOFR PERCENTILES: 75TH 3.72% (+2BP); 99TH 3.75% (+2BP)
- US 31 JUL SOFR VOLUME USD 3.205 TLN (3.011 TLN PRIOR)
US: MNI POLITICAL RISK - Iran And Oman Inch Closer To Hormuz Deal
Aug-03 11:59
Access Full Report Here
- President Donald Trump has ‘Executive Time’ at 08:00 ET 13:00 BST, will sign an Executive Order at 13:30 ET 18:30 BST, and has four policy meetings scheduled throughout the day.
- Acting Attorney General Todd Blanche is back on track for Senate confirmation this week after he confirmed in writing that the Department of Justice would rescind the so-called “anti-weaponization fund” and narrow the scope of an immunity deal Trump struck with the IRS.
- The US and Japan confirmed a joint intervention to address excess volatility in the Yen. Treasury Secretary Scott Bessent said the US, "will not hesitate to participate in further joint intervention.”
- The Middle East conflict continues to ebb according to a familiar pattern of escalation and de-escalation. Direct military action is on pause while mediators sound out agreement between Iran and Oman to reopen the Strait of Hormuz.
- Iran’s Foreign Ministry spokesperson cautioned that talks with Oman are not part of broader negotiations with the US and said a deal with Oman would not lead automatically to a reopening of the Strait.
- The Senate is expected to hold a procedural vote at 17:30 ET 22:30 BST to advance a stopgap funding bill to avert a government shutdown in October. The CR is competing for floor time with other key legislation before the Senate breaks for recess.
- Poll of the Day: Two in five Democrats would prefer a candidate who identifies as a democratic socialist.
Full Article: US DAILY BRIEF
