|Day's Range||4.2600 - 4.2600|
Economy's resilience means higher interest rates remain a possibility this year
U.S. liquefied natural gas (LNG) company Venture Global LNG told federal energy regulators and customers this week that it needs to make repairs at Calcasieu Pass in Louisiana that will delay the start of the export plant's full commercial operations. Energy analysts noted that unlike Freeport LNG, the work at Calcasieu will likely not have much impact on total U.S. LNG exports. Venture Global has been working on the 1.6-billion cubic feet per day (bcfd) Calcasieu for months and gas flows have averaged about 1.6 bcfd so far this year and 1.4 bcfd so far in March.
From a red-hot January as China cast off COVID curbs to February's flop when interest rates surged and now a manic March of banking blow-ups - financial markets have had an action-packed start to the year even by recent standards. Totting up the first quarter scores shows world stocks with a healthy 6% gain, government bonds up 3%-5%, gold 8% higher, energy prices sliding and the dollar barely budged. Global shares zoomed up 10% in January only to lose it all by the time Silicon Valley Bank, a mid-sized U.S. lender few had even heard of, collapsed and then the 167-year-old Swiss behemoth Credit Suisse required rescuing.