-- 周一午盘交易中，受供应充足和淡季需求疲软导致产量下降的支撑，美国天然气期货价格上涨。 近月亨利枢纽天然气合约和连续合约均上涨3.20%，至每百万英热单位2.87美元。 据美国能源信息署（EIA）数据显示，美国干气产量已从近期高位回落，2月份产量峰值接近每日1100亿立方英尺。 Trading Economics表示，其数据显示，过去五天产量已下滑约20亿立方英尺/日，初步数据显示为12周低点1076亿立方英尺/日。产量下降反映出主要生产商因持续低油价对产量经济性构成压力而自愿减产。 产量疲软也影响了库存动态。EIA报告称，截至4月24日当周，库存增加790亿立方英尺，与此前预期的800亿立方英尺增幅基本一致。然而，这一增幅低于前一周的1030亿立方英尺，也远低于去年同期1050亿立方英尺的增幅。 需求信号依然喜忧参半。天气模型显示，美国东部地区气温将持续低于正常水平，直至5月11日，之后气温才会回升。电力行业的天然气需求近几日有所缓解，从上周三报告的强劲的330亿立方英尺/日降至262亿立方英尺/日。 液化天然气方面，原料气流量略有放缓。NRG公司报告称，截至5月4日，其流量为173亿立方英尺/日。Trading Economics的数据显示，4月份的平均流量为188亿立方英尺/日，高于3月份的186亿立方英尺/日，也高于2月份创下的187亿立方英尺/日的月均纪录。
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Research
Research Alert: Bmrn Delivers Mixed Q1 Results As Amicus Deal Closes And Pipeline Advances
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:BioMarin delivered mixed Q1 2026 results with revenue of $766M (+3% Y/Y), beating consensus by $14M, but Non-GAAP EPS of $0.76 vs $1.13 (-33% Y/Y) missed consensus of $0.91. The quarter was impacted by a $31M NAGLAZYME manufacturing charge and Amicus acquisition costs. The $4.8B Amicus acquisition closed in April, adding GALAFOLD and POMBILITI + OPFOLDA to expand BioMarin's rare disease portfolio. Management raised 2026 revenue guidance to $3.825B-$3.925B, representing 20% Y/Y growth at the midpoint. Multiple pipeline catalysts are expected in 2026, including BMN 401 Phase 3 results for ENPP1 deficiency and VOXZOGO Phase 3 data for hypochondroplasia in Q2, both potentially supporting regulatory submissions in 2H 2026. BMRN expects more than 55% of 2026 revenues in the second half, driving back-end-loaded EPS recognition, in our view. With $2B in cash and $221M Q1 operating cash flow, BioMarin maintains substantial financial flexibility, in our opinion.
$BMRN
Commodities
US Natural Gas Update: Futures Jump to Four Week High on Cooler Forecasts
US natural gas futures trimmed earlier gains in after-hours trade on Monday but still climbed to a four-week high as cooler weather forecasts lifted prices.Both the front-month Henry Hub contract and the continuous contract rose 2.73% to $2.856 per million British thermal units.Expectations for below-normal temperatures across key consuming regions underpinned the rally, with forecasts pointing to increased heating demand in the near term.The Energy Buyers Guide said cooler-than-normal conditions are expected to dominate the eastern two-thirds of the US over the next two weeks, while the West is forecast to stay significantly warmer than average. Even so, overall energy demand is expected to remain subdued into mid-May, absent a major shift in weather patterns.Despite the price strength, underlying demand signals remain mixed. The Energy Buyers Guide noted that Monday likely marked the seasonal low point for combined heating and cooling demand, with population-weighted degree days projected at just 5.1, the lowest level since early May 2025. It suggested this could represent a transition point before stronger cooling demand emerges later in the spring.On the supply side, ample inventories continue to weigh on the broader outlook. Barchart noted that natural gas prices had dropped to a 1.5-year nearest-futures low on Apr. 17 amid robust storage levels. US Energy Information Administration data showed inventories as of Apr. 24 were 7.7% above the five-year seasonal average.Production also remains strong. Lower-48 dry gas output was estimated at 110.1 billion cubic feet per day on Monday, up 3.2% from a year earlier and slightly above what the EIA considers typical maximum capacity for April, according to BNEF. Demand in the Lower 48 states totaled 65.5 bcf/day, up 7.0% year over year.LNG feedgas flows showed some softening. Net flows to US LNG export terminals were estimated at 18.0 bcf/day on Monday, down 6.8% from the prior week, BNEF data showed.Reuters, citing LSEG data, reported that exports from the LNG Canada facility exceeded 1 million metric tons in April, setting a monthly record. The plant, the country's first major LNG export terminal and the first on North America's West Coast, shipped all volumes to Asia, with more than half destined for South Korea and at least one cargo delivered to China.
Australia
Vornado Realty Trust Q1 Non-GAAP FFO, Revenue Fall; Shares Drop After Hours
Vornado Realty Trust (VNO) reported Q1 non-GAAP funds from operations late Monday of $0.52 per diluted share, down from $0.63 a year earlier.Analysts polled by FactSet expected $0.51.Revenue in the three months ended March 31 fell to $459.1 million from $461.6 million a year earlier.Analysts surveyed by FactSet expected $431.7 million.Vornado shares fell 3% in after-hours trading.
$VNO