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On March 15, Goertek launched the DPS-F and Dayin-F speakers to meet the needs of foldable screen phones for ultra-thinness, high loudness and low distortion, and privacy calls. Goertek launched the DPS2.0 and Dayin Ultra speakers to meet the needs of high-end straight-screen phones for more balanced stereo and subwoofer-like sound effects. Goertek launched the Rhythm-Z2.0 to meet the needs of ultra-thin/foldable tablets for thinner speakers and improved full-frequency sound effects. Goertek also launched the Sandwich2.0 speaker technology for high-end smart watches.March 15th, the British Prime Ministers Office issued a statement on the British government website on Friday stating that British Prime Minister Keir Starmer said that if Russia "returns to the negotiating table", he hopes that Britain will monitor the ceasefire system in Ukraine together with other members of the so-called "coalition of the willing".March 15th news, recently, the computing power service market has continued to heat up. Since March, many listed companies have successively disclosed the signing of large-scale computing power service contracts worth hundreds of millions of yuan, which has attracted market attention. "Recently, the explosive development of AI technology, chip shortages and the expected increase in computing power rental prices, coupled with the promotion of favorable policies such as the East Data West Computing project, have led to a substantial increase in the demand for computing power orders." Wu Wanying, a senior researcher at Tianyi Digital Economy Think Tank, told reporters that with the continuous expansion of the scale of intelligent computing power, the further deepening of policy support and the penetration of AI technology into more industries, the demand for pre-computing power orders will continue to emerge, bringing new development opportunities to related fields.On March 15, Jack Meaning, chief UK economist at Barclays, said in a report that in the upcoming interest rate decision on March 20, the Bank of England is likely to keep the interest rate unchanged at 4.50% and reiterate that future interest rate cuts will be gradual. He said: "There has been nothing in the data since February that will materially change the views of the (Bank of England) Monetary Policy Committee." He said that the Bank of England may maintain its policy guidance unchanged at the March meeting and may cut interest rates by 25 basis points in May.The Dow Jones Industrial Average posted its biggest weekly drop since March 2023, while the S&P 500 and Nasdaq fell for the fourth consecutive week.

Warmer Weather Forecasts Lowered Natural Gas Prices 7%

Skylar Williams

Jan 11, 2023 10:54

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New forecasts for a mild winter sent natural gas prices back to the mid-$3 area.


The February gas contract on the Henry Hub of the New York Mercantile Exchange settled at $3.639 per mmBtu on Tuesday, down 27 cents, or 7%.


The drop follows Monday's 11% and 5.4% gas hikes. The benchmark gas contract is down 2% week-to-date and 52% in the past three weeks.


Gelber & Associates, a Houston-based energy markets consultancy, claimed market bears are selling NYMEX front-month natural gas contracts. "Sellers have regained control, driving prices to the low $3.30s/mmBtu as market players predict unseasonably high temperatures in the U.S.


Natural gas contracts fell precipitously in December after rising rapidly for much of 2022 due to weather extremes and a supply bottleneck caused by political and other barriers to Russian gas output after the Ukraine incursion. Unexpectedly mild winter temperatures have left European and American heating markets well-stocked.


According to the Gelber research, extremely mild temperatures through mid-January could lead to further gas price drops.


According to the Global Forecast System (GFS) and the European (ECMWF) models, the near-term temperature picture is bleak for mid-January, with daily gas storage withdrawals likely to be below the five-year average for two weeks.


The stoppage of the Freeport liquefaction facility in Texas has also reduced LNG exports by 2 bcf per day.


"For gas market bulls, colder weather in Europe would be beneficial," Gelber said. Similar to the U.S., European temperatures have been unusually warm since December.


Compared to $80-$100 per mmBtu last summer, European gas prices at the TTF point in the Netherlands are $21-$24.


"It's not out of the question that NYMEX gas futures may return to $5 [per mmBtu] or higher in the near future," Gelber wrote, "but it will require enormous amounts of Arctic air to dominate the nation for several weeks." Any weather forecast model regressions toward a lengthier period of warmth would send NYMEX gas futures to new lows.

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