LNG: JKM-NWE Spread Negative for First Time in 2 Years: Platts
Jan-03 16:57
The front-month JKM-NWE spread in the LNG paper market turned negative as Europe seeks more cargoes following the Russia-Ukraine transit deal expiration, Platts said.
- Platts assessed JKM-NWE spread for front-month February swaps at minus 11.7 cents/MMBtu Jan. 2, the first time the JKM-NWE spread was negative for the front month since Dec. 2022
- Healthy inventories and rising gas supply from Russia to China are expected to limit demand increases from the Far East in Q1 2025.
- The Asian LNG market typically commands a premium to NWE amid higher domestic consumption.
- Traders expect NWE LNG prices to continue commanding a premium during winter, and the spread may widen further with sellers looking to take advantage of premium prices in European hubs Platts said.
- Platts assessed LNG East-West arbitrage at minus $1.406/MMBtu on Jan. 2.
- Platts expects a tighter global LNG market than previously forecast in 2025 amid stronger European demand.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
US STOCKS: Software & Services, Broadline Retailers Lead Indexes to New Highs
Dec-04 16:46
- Stocks continue to make record highs Wednesday: SPX Eminis at 6088.25, Nasdaq at 19,680.06, while the DJIA remains off late November high around 45,067.28 it is still making decent gains on the day.
- At the moment, the DJIA trades up 231.21 points (0.52%) at 44941.02, S&P E-Minis up 22 points (0.36%) at 6085.25, Nasdaq up 166.9 points (0.9%) at 19646.87.
- Information Technology and Consumer Discretionary sectors led gainers in the first half, the tech sector buoyed by software and services shares for a change: after positive earnings call late Tuesday and several upgrades, Salesforce Inc trades 9.8% higher, ServiceNow +5.93% while Adobe gained 4.68%.
- Broadline retailers led the Consumer Discretionary sector with Amazon +2.43%, Best Buy +1.18%, AutoZone +0.81%.
- Conversely, Energy and Materials sectors underperformed in the first half, oil and gas shares weighing on the former: Texas Pacific Land -11.38%, Marathon Petroleum -3.04%, Devon Energy -2.79%.
- Meanwhile, metals and mining shares weighed on the Materials sector: Albemarle Corp -4.83%, LyondellBasell Industries -3.63%, Nucor -2.40%.
OPTIONS: Expiries for Dec05 NY cut 1000ET (Source DTCC)
Dec-04 16:33
- EUR/USD: $1.0450(E1.5bln), $1.0475-85(E1.1bln), $1.0495-05(E1.8bln), $1.0525(E915mln), $1.0550-65(E2.6bln), $1.0580-00(E1.8bln)
- USD/JPY: Y150.00($731mln)
- GBP/USD: $1.2600(Gbp594mln)
- AUD/USD: $0.6590-00(A$1.7bln)
- USD/CAD: C$1.4215($644mln)
- USD/CNY: Cny7.1900($1.3bln), Cny7.2000($1.5bln), Cny7.2500($1.8bln)
FED: US TSY 17W BILL AUCTION: HIGH 4.315%(ALLOT 7.78%)
Dec-04 16:32
- US TSY 17W BILL AUCTION: HIGH 4.315%(ALLOT 7.78%)
- US TSY 17W BILL AUCTION: DEALERS TAKE 34.38% OF COMPETITIVES
- US TSY 17W BILL AUCTION: DIRECTS TAKE 10.02% OF COMPETITIVES
- US TSY 17W BILL AUCTION: INDIRECTS TAKE 55.60% OF COMPETITIVES
- US TSY 17W BILL AUCTION: BID/CVR 3.10
Related bullets
Related by topic
Energy Data
US Natgas
TTF ICE
Asia LNG
Gas Positioning
European Union
