NATGAS: Natural Gas End of Day Summary: Henry Hub Softens
May-21 19:07
Henry Hub has lost ground today, halting a strong rally on March 19 driven by bargain buying and warmer forecasts.
- US Natgas JUN 25 down 2.4% at 3.35$/mmbtu
- US Natgas JUL 25 down 1.4% at 3.72$/mmbtu
- US natgas storage surveys: +117 bcf (Bbg), +116 bcf (WSJ)
- Lower 48 natural gas demand is down 1.837 bcf/d on the day to 67.07 bcf/d but remains above the seasonal five-year average of around 62.6 bcf/d, BNEF shows.
- The average US Lower 48 temperature forecast still shows a gradual rise back above normal by the end of the month.
- Total feedgas flows to US LNG export terminals down 110 mmcf/d today to 14.76 bcf/d, Bloomberg shows.
- US domestic natural gas production remains strong this week and estimated at 106.90 bcf/d yesterday compared to the high of the month of 107.1 bcf/d on May 17, according to BNEF.
- EPNG declared a force majeure at its Amarillo Compressor Station Unit in Randall Country, Texas. This was attributed to an equipment failure.
- European gas storage injections fell back below normal on the day, but total stores are up to 44.91% full on May 19, according to GIE. The previous five-year average is 55.5% full for this time of year.
- Guangdong Development Group (GDG) announced that it signed a long-term LNG sale and purchase agreement with trader Mercuria during the 29th World Gas
- MNI Gas Weekly: Download Full Report Here
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US STOCKS: Late Equities Roundup: Hugging Lows
Apr-21 18:54
- Stocks are holding near deep session lows in late Monday trade, Consumer Discretionary and Information Technology sectors continue to underperform with lack of clarity and communication over trade negotiations widely sited.
- Currently, the DJIA trades down 1258.06 points (-3.21%) at 37884.8, S&P E-Minis down 180.5 points (-3.4%) at 5132 (April 10 lows, still off April 7 low of 4832.00, The Nasdaq down 596.8 points (-3.7%) at 15689.37.
- Information Technology and Consumer Discretionary sectors continued to underperform, semiconductor makers primarily weighing on the IT sector: Super Micro Computer -7.60%, Arista Networks -6.04%, NVIDIA -5.76%, Palo Alto Networks -5.47%, Oracle -5.41% and Broadcom -4.91%.
- The Consumer Staples sector weighed down by Tesla -6.91%, DoorDash -5.87%,Chipotle Mexican Grill -4.48%, Carnival -4.22%, Ross Stores -4.01% and TJX Cos -3.93%.
- A mix of Financials, interactive media and pharmaceuticals outperformed in late trade: Discover Financial Services +3.34%, Fidelity National Information +3.00%, Netflix +1.40%, Moderna +1.34% and Dollar General +1.15%.
- Equity earnings resume after the close: Hexcel Corp, Medpace Holdings Inc, W R Berkley Corp, AGNC Investment Corp and Western Alliance Bancorp reporting.
PIPELINE: Corporate Bond Update, $5B American Express 4Pt Priced
Apr-21 18:25
- Date $MM Issuer (Priced *, Launch #)
- 04/21 $5B *American Express $1.6B 4NC3 +98, $400M 4NC3 SOFR+126, $1.5B 6NC5 +108, $1.5B 11NC10 +128
- 04/21 $700M Excelerate Energy 5NC2
- 04/21 $2B QXO Inc. 7NC3 investor calls
US: FED Reverse Repo Operation
Apr-21 18:23
RRP usage rebounds to $114.114B this after noon from $58.600B last Thursday. Usage had fallen to $54.772B last Wednesday, April 16 -- lowest level since April 2021. Usage had surged to the highest level since December 31, 2024 last Monday, March 31: $399.167B. The number of counterparties at 38.
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