US NATGAS: Natural Gas End of Day Summary: Henry Hub Falls on Week
Dec-19 19:41
Henry Hub is resisting $4.00/MMBtu, but is set for overall losses of around 2.75% on the week as temperatures look warm with minimal cold snap risk and feedgas demand trends falling over the week
- US Natgas JAN 26 up 2.4% at 4$/mmbtu
- US Natgas FEB 26 up 0.9% at 3.68$/mmbtu
- Baker Hughes rig count: Gas: 127 (0) - up 25 rigs, or 24.5% on the year. Gas is slightly lower than the recent peak of 130 Nov. 28, which was the highest level since July 2023.
- Forecasts shifted warmer for Dec. 24-28: Atmospheric G2.
- Feedgas demand today is 17.86 Bcf/d, mostly flat on the day.
- BNEF estimates lower 48 dry gas production at 113.82 Bcf/d and dry gas consumption at 98.65 Bcf/d.
- European gas storage was down to 68.24% full on Dec. 17, according to GIE data, compared to the previous five-year seasonal average of 77.6% full.
- Asian spot LNG prices fell to a 20-month low this week, pressured by weak regional demand and abundant supply, Reuters said.
- USGC LNG netbacks have recovered in the last week after compressing sharply since October, Timera Energy shows.
- An LNG tanker linked to a Chinese company docked at a US-sanctioned Russian export project for the first time, highlighting further sanctions circumvention Bloomberg reports.
- Japan’s LNG imports are likely to drop by 8% in the financial year through March 2027, according to the Institute of Energy Economics
- LNG tanker SM Kestrel, originating from the US Sabine Pass facility, diverted away from Asia towards Europe earlier this week.
- Centrica and PTT have signed a 10-year LNG sale and purchase agreement, Platts said.
- China’s domestic wholesale natural gas prices have fallen to their lowest levels in five years, creating a bearish outlook for Asian spot LNG, Platts said.
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SOFR OPTIONS: Scale Seller Dec'25 SOFR Midcurve Call Spread
Nov-19 19:35
- -50,000 0QZ5 97.00/97.25 call spds, 4.25-4.0 ref 96.915
US STOCKS: Late Equities Roundup: Remain Mixed, Focus Still on Nvidia Earnings
Nov-19 19:30
- US equity indexes held inside session ranges late Wednesday, the DJIA underperforming as it looked to extend session lows. Markets still digesting the October FOMC minutes release that showed rate cut opinions "strongly differed". Participants await the release of Nvidia Q3 earnings after the close.
- Currently, the DJIA trades down down 144.48 points (-0.31%) at 45946.4, S&P E-Minis down 6.5 points (-0.1%) at 6632.75, Nasdaq up 24.7 points (0.1%) at 22456.95.
- Communication Services and Information Technology sector shares continued to lead advances in the second half, media & entertainment stocks buoyed the former: Alphabet +3.33%, TKO Group Holdings +1.92%, Take-Two Interactive Software +1.51% and Match Group +0.38%.
- Chip makers primarily supported the tech sector: ON Semiconductor +3.99%, KLA Corp +3.20%, Applied Materials +3.20%, Lam Research +2.99%, Broadcom +2.35%, Seagate Technology +1.87% and NVIDIA +1.83%
- Conversely, Energy and Consumer Staples sector shares continued to underperform, a drop in crude prices (WTI -1.30 at 59.44) weighing on oil and gas stocks: Valero Energy -2.77%, APA -2.73%, EOG Resources -2.58%, Phillips 66 -2.37% and Occidental Petroleum -2.25%.
- Meanwhile, broadline retailers weighed on the Consumer Staples sector: Archer-Daniels-Midland -5.80%, Bunge Global -3.51%, Target -2.78%, Dollar General -2.15% and Estee Lauder Cos -1.92%.
USDJPY TECHS: Clears to New Highs
Nov-19 19:30
- RES 4: 157.87 High Jan 10
- RES 3: 157.27 3.0% Upper Bollinger Band
- RES 2: 157.24 2.382 projection of the Sep 17 - 26 - Oct 1 price swing
- RES 1: 156.80 High Nov 19
- PRICE: 156.79 @ 17:25 GMT Nov 19
- SUP 1: 153.68 20-day EMA
- SUP 2: 152.82 Low Nov 7
- SUP 3: 151.74 50-day EMA
- SUP 4: 150.47 Low Oct 21
USDJPY rallied again Wednesday, topping several resistance levels to extend the bull run. This also confirms once again, a resumption of the uptrend. Note that moving average studies remain in a bull-mode position, highlighting a dominant uptrend. Sights are on 157.24 next, a Fibonacci projection. Support to watch is 153.68, the 20-day EMA. A clear breach of the average is required to signal scope for a corrective pullback.
