FINWIRES · TerminalLIVE
FINWIRES

US Natural Gas Prices Continue Weekly Decline on Lower Demand, Inventory Build

作者

-- US natural gas markets eased over the week, as softer demand and rising stockpiles offset weather-driven volatility and a bullish storage report.

The front-month June contract price fell over the week to $2.789 per million British thermal units, from $2.861/MMBtu on April 24.

For the week ended April 29, the May 2026 Nymex contract was down $0.05 at $2.559/MMBtu, compared with $2.61/MMBtu the prior week, the Energy Information Administration's Weekly Gas Storage Supplement said.

Natural gas spot prices fell by $0.16/MMBtu to $2.60/MMBtu during the week ended April 29, according to the EIA, from $2.76/MMBtu last week.

This was attributed to a 2% decline, or 1.2 billion cubic feet per day, in total US natural gas demand compared with the prior week, with a 12% decline in residential and commercial demand during the period.

The EIA noted that the Henry Hub price remained the highest recorded price across all major pricing hubs in the US during the week.

The net injection into storage for the week ended April 24 was 79 Bcf, down from 103 Bcf the prior week, bringing total gas inventories to 2,142 Bcf, according to EIA data.

During the same week last year, the EIA reported a net injection of 105 Bcf, with the five-year average for this period at 63 Bcf. This week's figures were below forecasts at 83 Bcf, prompting a rally in markets, according to data compiled by Investing.com.

Total gas inventories at 2,142 Bcf are now 116 Bcf, or 6%, above the corresponding period a year ago, and 153 Bcf, or 8%, higher than the five-year average for this period.

All regions reported a net injection of working gas during the week ended April 24, with South Central reporting the highest at 26 Bcf, bringing its total inventories to 905 Bcf. Balances at South Central are now 18 Bcf above the five-year average.

Weather forecasts have remained bullish in recent weeks, with eastern parts of the US expected to see below-normal temperatures from May 08 to May 17, according to the National Weather Service.

However, analysts at Pinebrook Energy Advisors believe this cold pattern over the coming weeks "will have less of an impact on natural gas demand for heating" as normal temperatures begin to climb as the calendar progresses through the new month.

A total of 35 liquefied natural gas-carrying vessels left US ports during the week, the same as the previous week, with a total capacity of 133 Bcf, down by 1 Bcf compared to the prior week.

Meanwhile, the US gas rig count increased by one from 129 the previous week to 130 in the week ending May 1, according to data from Baker Hughes (BKR) released Friday. That compares with 108 gas rigs in operation in the US a year earlier.

The consolidated North American oil and gas rig count, a key early indicator of future production levels, dropped by four to 670 from 674 the previous week.

In international markets, European TTF gas prices averaged $15.41/MMBtu for the week ended April 29, $1.14/MMBtu higher than the previous week.

The Japan-Korea Marker averaged $16.59/MMBtu, about $0.93/MMBtu higher than the prior week.

相關文章

Research

研究快訊:CFRA維持對Mid-America Apartment Communities, Inc.股票的賣出評等。

獨立研究機構CFRA向提供了以下研究報告。 CFRA分析師的觀點總結如下:我們將目標價下調6美元至119美元,原因是MAA的主要租賃市場疲軟,且其預期市盈率(P/FFO)為14.0倍,低於多戶住宅房地產投資信託基金(REIT)的平均水平15.5倍。我們將2026年的FFO預期上調0.15美元至每股8.50美元,並將2027年的FFO預期下調0.10美元至每股8.70美元,預計2026年和2027年的總租賃收入分別為22億美元和23億美元。我們對2027年的FFO展望更為謹慎,因為我們認為提高新租約的租金將面臨挑戰,就像2026年的情況一樣。 MAA的業務主要集中在陽光地帶市場,但新增供應給每月租金帶來了下行壓力,因此需要為新租戶的租約提供激勵措施,以滿足市場需求並降低空置率。我們認為美國經濟和就業趨勢不太可能成為推高月租金或收入的催化劑。 MAA在陽光地帶的一些主要市場,例如丹佛(年減13%)和德州奧斯汀(年減9%),現金淨營業收入均下滑,其他一些本地市場也表現疲軟。股息殖利率為4.7%,我們認為這一水準較為穩健。

$MAA
Research

研究快訊:CFRA維持Vlto股票的「持有」評級

獨立研究機構CFRA向提供了以下研究報告。 CFRA分析師的觀點總結如下:根據第一季業績,我們將目標股價從115美元調整至100美元,相當於22倍市盈率,維持2027年每股收益預期4.53美元不變,接近同業三年曆史平均市盈率。我們將2026年每股盈餘預期從4.15美元上調至4.20美元。 VLTO第一季業績表現強勁,超出預期,營運每股收益為1.07美元,較去年同期成長12.6%,高於市場普遍預期的1.01美元。核心銷售額年增約2%,主要得益於水質業務收入的強勁成長(成長4%),抵銷了產品品質與創新業務1%的下滑。中國市場表現喜憂參半,各業務板塊業績差異顯著。儘管銷售業績不一,但營業利益率小幅提升10個基點至25.1%,反映出淨利有所改善。自由現金流成長19.7%,支持了本季約10億美元的資本部署,其中包括用於收購In-Situ和GlobalVision的6.2億美元以及3億美元的股票回購。 VLTO還啟動了一項成本優化計劃,預計到2028年每年可節省6500萬至7500萬美元。

$VLTO
Research

研究快報:CFRA維持對費埃哲公司(Fair Isaac Corporation)的「持有」評級

獨立研究機構CFRA向提供了以下研究報告。 CFRA分析師的觀點摘要如下:我們維持1,219美元的目標價,並採用26倍的2027財年(9月)每股盈餘預期。本益比的下調反映了FHFA允許VantageScore在符合標準的抵押貸款中使用後,監管方面的不確定性。此舉首次對FICO長期壟斷地位構成了實質競爭。我們對2026財年的每股盈餘預期為41.08美元(高於先前的38.48美元),對2027財年的每股盈餘預期為46.90美元。我們維持「持有」評級,同時等待FICO的抵押貸款直接許可計劃的競爭格局和市場接受度趨勢更加明朗。目前,貸款機構的接受度仍不明朗,管理階層對競爭威脅的輕視與其採取的防禦性定價策略形成鮮明對比。儘管該公司近期業績表現強勁,並透過股票回購實現了積極的資本回報,但監管環境已發生根本性變化,因此需要保持謹慎。 FICO 的平台軟體發展勢頭、不斷擴大的營運槓桿以及轉換成本,提供了足夠的上漲空間來抵消近期行業的變化。

$FICO