--
Price: $108.73, Change: $+5.83, Percent Change: +5.67%
Related Articles
Oil & Energy
US Natural Gas Update: Prices Rise on Lower Output, Cooler Weather
US natural gas futures climbed in midday trading Friday, supported by declining production, shifting weather patterns, and steadier export demand, even as ample storage continued to weigh on the market.The front-month Henry Hub contract and the continuous benchmark each rose 0.26% to $2.65 per million British thermal units after briefly dipping earlier in the session.Supply-side fundamentals provided support, with average US gas output falling about 3.2 billion cubic feet per day over the past four days to a preliminary 10-week low of 108 Bcf/d, according to Trading Economics. The decline was led by reduced production in Louisiana and Ohio.Export flows also remained firm. Deliveries to major US LNG export terminals averaged 18.9 Bcf/d so far in April, up from 18.6 Bcf/d in March, helping offset weaker domestic consumption trends.On the demand side, industrial usage has fallen 3.9 Bcf/d from a month ago, according to NRG Energy, contributing to overall softness in consumption. Gas-fired power generation has also eased slightly compared with last week, though Rystad Energy noted the decline remains seasonal and typical for shoulder-period demand conditions.Weather forecasts were mixed but broadly supportive of late-week pricing. NatGasWeather.com expects cooler-than-normal conditions across the Northwest and Midwest through Saturday, with highs in the 40s to 50s degrees Fahrenheit and lows in the 20s to 30s.A broader cooldown is forecast to extend into the Ohio Valley and Northeast from Sunday through Tuesday, potentially lifting heating demand.Price action briefly turned volatile earlier in the day after geopolitical headlines surrounding the Strait of Hormuz.Statements from US President Donald Trump and Iranian Foreign Minister Abbas Araghchi indicated the waterway will open under ceasefire conditions, easing concerns about energy transit disruptions and triggering a sharp drop in global crude and European gas prices.US natural gas futures briefly fell to $2.623/MMBtu in tandem before recovering, reflecting the market's relatively limited direct exposure to international supply routes.However, rising inventories continued to cap gains. The Energy Information Administration reported a storage build of 59 Bcf for the week ended April 10, above expectations and well above both last year's increase and the five-year average.The larger-than-expected injection reflected mild weather that suppressed heating demand, with forecasts largely indicating continued above-normal temperatures into early May.
Australia
Market Chatter: Anthropic CEO to Discuss Mythos Access With White House Official
Amazon-backed (AMZN) Anthropic Chief Executive Dario Amodei is set to meet on Friday with White House Chief of Staff Susie Wiles for talks that could set the stage for federal agencies to eventually start using Mythos, the company's new artificial intelligence model, Bloomberg reported Friday, citing people familiar with the matter.Anthropic and the White House didn't immediately reply to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $253.89, Change: $+4.19, Percent Change: +1.68%
$AMZN
Treasury
CIBC On the Week Ahead In Canada Economics
According to Avery Shenfeld, nobody will be surprised to see headline CPI "take a big jump" in March on increases in gasoline. But, he said, it will be too soon to pick up any real news on the spillover from that for core inflation given that plane tickets that month were bought in advance, and non-food goods on the shelf had been shipped before diesel prices escalated. CIBC sees CPI up 1% in the month and 2.5% over the year, compared to a consensus of 1.1% and 2.6% respectively. The bank forecasts both CPI Core-Median and Trim will be up 2.3% year over year, compared to a consensus 2.4% and 2.3% respectively.Shenfeld said retail sales next Friday should show a "hefty" gain in February. He added while March could suffer from volume weakness outside gas stations, the Q1 picture for consumption looks to have been "quite good". While lower-income GST rebates and fuel excise tax cuts will cushion the blow, Q2 will take a hit from energy costs squeezing consumers, Shenfeld said. We'll need stronger employment numbers to get the retail sector on sustained growth path, he added. CIBC forecasts growth of 0.8% in both retail trade total and ex-auto for the month, versus a consensus of 0.9% and 0.8% respectively.CIBC also awaits the release Monday of both the Q1 Business Outlook Survey and the Canadian Survey of Consumer Expectation. Tuesday will see the auction of $16.4 billion in 3-M Bills, $5.8 billion in 6-M Bills and $5.8 billion in 1-YR Bills, followed Wednesday by the auction of $5 billion in 10-YR Canadas.Thursday will see the release of March Industrial Product Prices and Raw Materials data.
$^GSPTSE$.GSPTSE$$CXY