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Are Global Henry Hub Natural Gas prices about to rise? A significant increase in import volume is anticipated for Europe's summer procurement.
① Europe is experiencing a cold wave this year, coupled with the cessation of Henry Hub Natural Gas transit through Ukraine, leading to a drop in the region's natural gas inventory to 37%, far below the 60% of the previous two years; ② It is estimated that Europe needs to import an additional 250 batches of liquefied natural gas to replenish inventories to 90% before November; ③ On the other hand, the International Energy Agency warns that the liquefied natural gas market will continue to be tight this year, which will strongly support natural gas prices.
CITIC SEC: Changes in Consumer structure, the gas Industry returns to the right track while urban gas growth is moderate.
Looking ahead to 2025, the recovery of traditional demand and the "one city, one enterprise" policy are expected to drive a moderate increase in the sales volume of leading city gas companies. The recovery of gross margins and the growth in gas volume will help city gas performance regain growth, while leading city gas companies' valuations are generally at historical lows, highlighting the cost-effectiveness of investment.
Hong Kong stocks movement | Petroleum stocks continue to decline as OPEC decides to increase production as scheduled. In the short term, oil prices are still affected by tariffs and other factors.
The Petroleum stocks collectively declined. As of the time of writing, China Oilfield Services (00883) dropped 3.02%, priced at 17.32 HKD; PetroChina (00857) fell 2.41%, priced at 5.68 HKD; China Oilfield Services (02883) decreased 1.74%, priced at 6.23 HKD.
Oil Prices Drop To Two-Month Lows On US Fuel Stockpile Build
New U.S. Sanctions Target Iran's Oil Supply Chain Amid Trump's 'Maximum Pressure' Push -- WSJ
Not afraid of pressure from Trump? Traders expect OPEC+ to delay the production increase plan for April again.
Despite Trump pressuring for a price cut, traders generally expect that due to a potential oversupply in the Global market, OPEC+ will postpone the planned monthly production increase set to start in April by one to three months. This is the fourth time since 2022 that OPEC+ has delayed plans to restore oil production.
