US NATGAS: New England Natgas Prices Rick Up on Day
Feb-28 15:31
New England gas prices are trading higher today, amid higher demand, lower pipeline inflows, and signs of approaching colder weather in Boston.
- Algonquin City Gate is down 8 cents/MMBtu on the day to $4.04/MMBtu, the EIA said citing SPMI data. NGI has Algonquin City Gate up 9.5 cents/MMBtu.
- Tennessee Zone 5 200L is up 10 cents/MMBtu, according to NGI.
- Total Demand into New England is at 3.26 bcf/d, up around 0.21 bcf/d on the day, the EIA said.
- Bloomberg has end user demand 149 mcf/d higher on the day at 3.57 bcf/d, comprised of 36% of power demand, 53% of residential and commercial demand, and 11% of industrial demand.
- Total consumption on a seasonal basis continues to be within the high low range of the previous five-year period.
- Regional pipeline utilisation is at 66.2%, the EIA said, compared to 67.6% at the same time yesterday. Utilisation via Waddington continues to be showing 0%.
- Bloomberg has total pipeline inflows from other US regions at 2.92 bcf/d, down around 305 mcf/d on the previous day.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
MNI: US EIA: CRUDE OIL STOCKS EX SPR +3.46M TO 415.1M JAN 24 WK
Jan-29 15:30
- US EIA: CRUDE OIL STOCKS EX SPR +3.46M TO 415.1M JAN 24 WK
- US EIA: DISTILLATE STOCKS -4.99M TO 124.0M IN JAN 24 WK
- US EIA: GASOLINE STOCKS +2.96M TO 248.9M IN JAN 24 WK
- US EIA: CUSHING STOCKS +0.33M TO 21.0M BARRELS IN JAN 24 WK
- US EIA: SPR +0.25M TO 394.8M BARRELS IN JAN 24 WK
- US EIA: REFINERY UTILIZATION WEEK CHANGE -2.4% TO 83.5% IN JAN 24 WK
EURIBOR OPTIONS: Call Fly buyer, the Call Spread trades for more
Jan-29 15:26
- ERM5 98.00/98.12/98.25c fly, bought for 1.25 in 20k.
- For the ERM5 98.12/98.25cs, this has now been bought for half in 79.5k.
CANADA: Dovish Rates Reaction To BoC Gains Ground, FX Unfazed
Jan-29 15:26
- 2Y GoCs have extended a dovish reversal of what was initially, and only briefly, a small hawkish reaction to the BoC statements.
- 2Y yields are now 3bp lower for -5.5bp on the day, setting new lows since 2022 in the process.
- It sees the Can-US 2Y differential fall to fresh multi-decade lows of -142bps (-3bp post-decision, -5.7bp on the day).
- BoC-dated OIS currently shows a rough 50/50 call for a 25bp cut or pause with the March decision, whilst CORRA futures are 2.5-3bp lower across the curve implying a terminal of 2.5-2.55% depending on spread assumptions.
USDCAD meanwhile, at 1.4440, is still within a few pips of pre-announcement levels, remaining below the session high of 1.4472 and resistance at 1.4516 (Jan 21 high).
