LNG: Trinidad Boosts LNG Revenue as Despite Export Drop: Platts
Feb-12 11:41
In Trinidad & Tobago, returns from LNG production has been boosted by securing prices for its LNG averaging 15%-55% above Henry Hub, Platts said, citing the country’s energy minister Stuart Young.
- However, the Caribbean nation’s exports saw a 9% decline on the month in January to 37.18 bcf.
- Despite the drop, this is still the second-highest monthly export volume since May 2023 and were up 4% on the year.
- Colombia was the primary destination for Trinidad’s export, totalling 10.74 bcf, compared to 10.60 bcf in Dec.
- Trinidad is the second-largest LNG exporter in the Americas adrer the US, but has faced challenges in natural gas production due to a lack of upstream investment and issues with ongoing projects.
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OUTLOOK: Price Signal Summary - Retracement In The EUROSTOXX50 Contract Extends
Jan-13 11:35
- In the equity space, a bear threat in the S&P E-Minis contract remains present and the contract is trading lower today. 5866.00, the Dec 20 low and a key short-term support, has been cleared. This strengthens a bearish theme and sights are on 5784.00, the Nov 4 low and an important short-term support. Initial pivot resistance is seen at 5996.50, the 50-day EMA.
- A bull cycle in the EUROSTOXX 50 futures contract remains intact and for now, the latest pullback appears corrective. Initial support to watch is 4935.71, the 50-day EMA. It has been pierced, a clear break of it would undermine a bullish theme and signal scope for a deeper retracement, towards 4829.00, the Dec 20 low and key short-term support. For bulls, resistance at 5040.00, Dec 9 high, has recently been pierced. A clear break of it would resume the bull cycle that started on Nov 21 and open 5068.13, the 0.764 projection of the Nov 21 - Dec 9 - 20 price swing.
EURIBOR OPTIONS: Mid Curve Upside structures
Jan-13 11:27
- 0RG5 97.875/98.00/98.12c fly, bought for 1.75 in 4k.
- 0RG5 98.00/98.125/98.25c ladder, bought for 1 in 6k.
US 10YR FUTURE TECHS: (H5) Bearish Start To The Week
Jan-13 11:27
- RES 4: 111-20+ High 6 and the bull trigger
- RES 3: 110-25 High Dec 12
- RES 2: 109-28 50-day EMA
- RES 1: 108-26/109-06 20-day EMA / High Dec 31
- PRICE: 107-09 @ 11:08 GMT Jan 13
- SUP 1: 107-06 Intraday low
- SUP 2: 107-04 Low Apr 25 ‘24 and a key support
- SUP 3: 107-00 Round number support
- SUP 4: 106-11 2.00 proj of the Oct 1 - 14 - 16 price swing
The trend condition in Treasury futures is unchanged and remains bearish. Today’s bearish start to the week, has once again, confirmed a resumption of the downtrend. Sights are on 107-04 next, a Fibonacci projection. Note too that moving average studies remain in a bear-mode position highlighting a dominant downtrend. Key short-term resistance is seen at 108-26, the 20-day EMA.
