U. 07 Jun 2022. So, whether you're hedging against the future cost of jet fuel, petrol/gas prices at the pump, a change in interest. The JKM for November was assessed $16. 66 M. Prices have increased since late 2021 as a result of supply issues. เว็บฟรี กราฟเทคนิคัล ข้อมูลย้อนหลัง และงบการเงิน ของ หุ้น SET50 พรัอมเครื่องมือช่วยคำนวนผลกำไรขาดทุน fund/stock technical chart,graph with realtime indicators and auto calculate profit. 125 -0. EIA (2021), Henry Hub Natural Gas Spot Price; ICE (2021), JKM-Japan Korea Marker LNG Future; ICIS (2021), ICIS LNG Edge (subscription required);. 6. 05 with Target 1 - 265. Energy Information Administration (EIA), the increasing natural gas prices reflect a relatively cold weather in January, the demand of heating and electricity, and continued strong demand for U. Japan Korea Marker (JKM) benchmark spot prices for Asian LNG (see chart) largely have come down from post-Ukraine invasion highs in the $70-80 per million British thermal units (MMbtu) range. Range. TTF Futures hit record open interest of around 1. 00 20. 34: 4. JAPAN CRUDE COCKTAIL (DETAILED) (NYMEX:QJCC) Price Charts and Quotes for Futures, Commodities, Stocks, Equities, Foreign Exchange - INO. 77/MMBtu price for ex-ship LNG deliveries into ports in Japan and South Korea in February, marking a roughly 20% decline versus forecasts issued in mid-December; spot markets have shown an even steeper downward curve in recent days, as S&P Global. 75: 12. 87/MMBtu after the EIA reported an unexpected decrease in inventories. 00. S. 90: 13. 06 discount to the JKM (Japan-Korea Marker) LNG price. 10 within a range of $1 to $25. Other Reports. The Platts JKM monthly average prices for January, February, and March 2022 delivery were assessed at $35. m. The historical data and Price History for Liquified Natural Gas swap futures contract based on South East Asian LNG prices from Platts (JKM*1) with Intraday, Daily, Weekly, Monthly, and Quarterly data available for download. 交. JKM™은 일본, 한국, 중국, 대만으로의 DES(delivered ex-ship, 착선인도조건) 물의 현물 시장 가치를 반영합니다. 6% month on month to an average $12. 5 and is wearing a size 33x34. 82: 3. LNG Contracts & Pricing. View all months | Download data | Analyze Chart: BACKADJUSTED PGP POLYMER GRADE PROPYLENE SWAPS (NYMEX:QPGP#C) View all months | Download data | Analyze Chart: Market Contract Open High Low Last Change Pct Time; QPGP#C: Cash: 0. Regardless $22. 102 (-3. 414 euros per megawatt hour on August 28, 2023 for contracts. JKM prices have remained at its one year high of $6. The price of JKM contracts ended at $27. Published by Statista Research Department , Oct 30, 2023. Net injections of natural gas into storage decreased from year-ago levels despite increases in U. 44 %) 1 Day 1 Week 1 Month 3 Months 6 Months 1 YearPlatts Market Data — LNG also includes LNG carrier day rates, global LNG freight route costs, and alternative fuels. Examples of JKM in a sentence. ICE Futures Europe is home to futures and options contracts for crude oil, interest rates, equity derivatives, natural gas, power, coal, emissions and soft commodities. The chart is intuitive yet powerful, offering users multiple chart types including candlesticks, area, lines, bars and Heikin Ashi. JKM™ reflects the spot market value of cargoes delivered ex-ship (DES) into Japan, South Korea. The live Bitcoin price today is $37,395. On 7 March 2022, Dutch TTF briefly reached an all-time intraday high of €345/MWh as Russia’s invasion of Ukraine on 24 February heightened. LNG in World Markets – Mid Month. Rising demand for RNG has helped push prices for the associated environmental attributes up to anywhere from five to forty times the price of physical natural gas. 60 $1. 90 - $22. 2 million MMBtu volume, of vessel size range of 135,000-175,000mt for delivery into India, Dubai. S. SINGAPORE, Jan. TTF Futures hit record open interest of around 1. 75 with Target 1 - 243. This page provides the natural gas price per million Btu and its width of price fluctuation, and also provides natural gas price charts for the past 90 days, 180 days, 1, 2, 5, and 10. The Platts JKM, the benchmark price for spot LNG in northeast Asia, hit a record high $56. This is higher than BNEF. 8 per MMBtu for the fourth quarter. As a result, gas storage inventories in Europe remain healthily at the top of the 5-year range near to winters end. Asian and European spot LNG and gas prices remain supported by incremental summer demand and recent Russian gas supply disruptions in Europe. Kuala Lumpur, 7 May 2021 - PETRONAS LNG Ltd (PLL) introduced the Canada Alberta Energy Company (AECO) index as a new LNG price indexation to its customers following the sale of a spot LNG cargo from Bintulu, Malaysia, to a buyer in Far East for August 2021 delivery. 26: 2. 23 M. Naphtha futures have resurged to nearly $630 per tonne, pressured by increasing strength in other energy products, particularly crude oil, as the recent OPEC monthly report indicated that fundamentals remained strong. What is the Japan Korea Marker (JKM)? Heavily referenced LNG pricing point in Northeast Asia. 99. 12, ICE data. 12. 00 10. U. The current price of natural gas as of November 14, 2023 is $2. 7%, up 1. Download the App More markets insights, more alerts, more ways to customise assets watchlists only on the App Basic Info. It is based on prices reported in spot market trades and/or bids and offers collected after the close of the Asian trading day at 16:30 Singapore time. 40 per million British thermal units (MMBtu) over the course of the winter, peaking in January at over $3. 90/MMBTU premium to TTF. You'll find the closing price, open, high, low, change and %change of the Dutch TTF Natural Gas Futures for the selected range of dates. Price Quotation: U. 该估价在东北亚地区和全球的现货交易、招标及短期、中期和长期合约中均被参考应用。. 6% from the same day last year. 08% Get real-time market data from LSEG LNG Japan/Korea Marker (Platts) Swap JKMc1 Latest. Accessed November 23, 2023. The model simulates 500+ individual correlated price paths (e. Monthly price chart and freely downloadable data for Natural Gas. S. cmegroup. October 2, 2022. CT on all cmegroup. 6, 2021, and was at. 00%: 00:00: BAKKEN CUSHING. Henry Hub, TTF/NBP, JKM, Brent) capturing the unique ‘regime’ based pricing dynamics in the LNG market. Y-o-Y change in Asian LNG imports vs JKM. 96%. 00 40. 5. 028. We all know that when a war breaks out the prices of energy will go up. 4 The most important pricing elements of those clauses are: the base price (Po), the index (on the basis of which the base price is adjusted), the frequency of adjustment, the opportunities (if any) to reset the base price and/or the index, any other provisions such as minimum (floor) or maximum (ceiling) price levels. Beginning Monday, January 8, 2024, CME Group settlement data will no longer be accessible through ftp. Dedicated storage. 该估价在东北亚地区和全球的现货交易、招标及短期、中期和长期合约中均被参考应用。. 97%. 29% Year to date −43. 85 ($2. com and will have a delayed publication time of 12:00 a. com MarketsDaily Settlement Price: The price determined by Japan Securities Clearing Corporation (JSCC) based on the Final Execution Price, etc. m. 19: 12. Get LNG Japan/Korea Marker (Platts) Swap (JKMc1) real-time stock quotes, news, price and financial information from Reuters to inform your trading and investments Platts, part of S&P Global Commodity Insights, assessed the JKM price benchmark for April at $14. Price/Book: A financial ratio used to compare a company's current market price to its book value. Natural Gas Monthly Price - US Dollars per Million Metric British Thermal Unit. By comparison, the August JKM assessment in 2020 was at $2. 105, ADX = 27. . 5 months ago. As the market has grown, so has the need for transparent pricing. 499/MMBtu Feb. This is the highest for the LNG benchmark for Asian. The average price of spot LNG cargoes that were contracted and delivered to Japan with the month of June 2022 (arrival-based price) was not disclosed. Japan Korea Marker (JKM) benchmark spot prices for Asian LNG (see chart) largely have come down from post-Ukraine invasion highs in the $70-80 per million British thermal units (MMbtu) range. 17, 2023TOCOM Final Settlement Prices Updated (Contract month:May 2023): LNG (Platts JKM) April 17, 2023 at 02:27 am EDT ShareBuy Gold, Silver, and Platinum bullion online at JM Bullion. For more data, Barchart Premier members can download historical Intraday, Daily, Weekly, Monthly or Quarterly data on the ULSD NY Harbor Historical Download tab, and can download additional underlying chart data and study values using the Interactive Charts. 07 M. AECO is a leading price benchmark for natural gas in Canada, similar to the. We update our BTC to USD price in real-time. JCC is used by LNG traders in APAC despite representing crude oil prices. This means that TTF’s premium averaged at a record of $10/mmbtu, on Europe’s growing thirst for every drop of LNG. 北美市場：以路易斯安那州的亨利港（Henry Hub）作為交通樞紐與期貨交割地，主要得利於該地鄰近油氣產區、出海口，並且是全美州. This was driven first by an unprecedented supply-side response to low prices, with US LNG. The right hand panel shows how these prices compare on a netback basis to the full contract price i. As on 17 Nov, 2023, 03:59 PM IST JM Financial share price was down by 1. Operating and planned CO2 storage facilities by storage type as of 2023. g. Futures signal JKM prices could ease for March delivery but a looming cold snap in the Northern Hemisphere in the US and Europe present significant upside risk for global gas markets. From current levels though what should be expected should be a 25% rally (wave V) towards the 4$ mark. com web pages. For instance, if June 16 is a business day, Platts JKM, (Aug) is the average of price assessments of cargoes for delivery in H1 August and H2 August. 299. Futures signal JKM prices could ease for March delivery but a looming cold snap in the Northern Hemisphere in the US and Europe present significant upside risk for global gas markets. -1. In Europe, rising coal and EUA prices, low inventories levels and tight supply due to multiple planned and unplanned outages (notably with a further extension of the Karsto outage in Norway) continued to fuel the bullish. Natural Gas (NG:NMX) Historical Prices - Nasdaq offers historical prices & market activity data for US and global markets. 20. Oct 1993 - Sep 2023: 0. This decline was driven by Asian demand response to soaring LNG prices, as shown by the JKM price in Chart 2 (green line). "Average price for liquefied natural gas (LNG) in Japan from September 2019 to September 2022 (in nominal U. RBOB Gasoline. Commodity Insights旗下的Platts JKM™ 是液化天然气（LNG）实物现货市场的基准估价。. Paysafe Limited price-consensus-chart | Paysafe Limited Quote. Access historical data for LNG Japan/Korea Marker PLATTS Future. 48%. Market Commentary View the latest insights on trends in the Energy market. China’s LNG imports are now on track to overpass 8 MT – its highest level. 3. Get free historical data for LNG Japan/Korea Marker PLATTS Future. This can be seen in Chart 2 where we show the JKM price impact for given volume changes in global market balance. Long term JKM price premiums of A$4-6/GJ on HH represent full cycle cost of supply for LNG project development, with seasonal supply and demand imbalances leading to volatility in prices. Source: CME, Timera Energy. CT on all cmegroup. By Year. NG. Immediate Delivery - Call Us 800-276-6508 - BBB Accredited. LONDON, Sept. 7, amid a cold snap across northeast Asia and persistent shipping constraints. The U. 642/MMBtu Feb. Multinational lender ABN-AMRO on 12 December forecast saw natural gas prices falling to $6. This reflected a. From the beginning of August 2020 to the end of March 2022, the correlation coefficient between WTI futures prices and CME Group Petroleum Index is more than 0. 475. 20. 29, up from 13. cmegroup. Just buy when you hear for example on the news that China is invading Taiwan, or any other crazy war the global elites like to make. 326/MMBtu Oct. 40 USD/MMBtu between late May and early June, while TTF front-month bottomed out at 8. Learn about alternate ways to access the data in our FAQ. Clearing. Liquified Natural Gas swap futures contract based on South East Asian LNG prices from Platts futures price quote with latest real-time prices, charts, financials, latest news,. 1/MBtu and the arrival-based price was not disclosed. Natural gas futures fell on Monday for a third session, undermined by tapped down demand forecasts for this week’s cold and production volumes near or at new all-time highs. Best online prices for Jinko Solar solar panel. Operating Planned for 2030 0 25 50 75 100. 71%. 8 per MMBtu for the fourth quarter. Our benchmark prices have become commonplace as market participants use them to write contracts, monitor their commodity market (s) and achieve full transparency around transactions. Because. 00 30. Once the markets have closed, the Last Price will show an 's' after the price, indicating the price has settled for. The JKM LNG price for April delivery rose by 27. dry natural gas production. Best unit price $320. ‘Over the next two decades, global demand for natural gas grows more than four times faster than demandPrice/Cash Flow: Latest closing price divided by the last 12 months revenue/cash flow per share. 31. Gas price to Buyers will be based on the Weighted Average Price (WAP) of LNG exports as the primary input. 00: 4. The MRP data is sourced from the Department of Statistic,. +1. 465 159. 45. The last time the JKM rallied to this high was in October 2014, and at that time European reloads were being offered back to back to the Pacific. Trade ideas, forecasts and market news are at your disposal as well. However, the decline seen in 2021 was still extreme. 762/MMBtu March 7 because of supply uncertainty and rising prices. Find the latest Dutch TTF Natural Gas Calendar (TTF=F) stock quote, history, news and other vital information to help you with your stock trading and investing. A few early cash bids so far this week have been at $177-179 across the country. • 100+ North American basis location spot prices • Platts and Argus pricing available through Bloomberg Europe • Real-time NBP, TTF pricing • Zeebrugge, GPL, NCG and PEG fair value curves • Other key European pricing markers LNG Prices • JKM forward curves • Platts and Argus LNG pricing available through BloombergThe prices shown are in U. LNG prices have fallen steeply over recent months, with the benchmark JKM contract in Asia retreating from an August high of USD70/mnBTU, to around USD30/mnBTU at the time of writing. 20. Portfolio players are using swaps and futures to lock in prices on forward delivery volumes. JM Financial Ltd. Beginning Monday, January 8, 2024, CME Group settlement data will no longer be accessible through ftp. According to some market sources, JKM prices could fall further to $10-$13/MMBtu on ample inventories and improving supplies with the imminent restart of Freeport LNG in the US. Sort by: LG Solar. 6. 75 per mmBtu for 3 years, they said adding at the current JKM price of $9. However, they are down 61% from the record high of $69. 90 $8. benchmark Henry Hub spot price in our forecast averages around $3. Most recently, JKM futures have registered nearly $8/MMBtu this week with reports of spot prices topping $9 in some markets (see the latest front month prices in the chart below). LNG. Henry Hub Natural Gas Spot Price - Historical Annual Data. -1. View all Energy Commentary Videos. Natural Gas Future Prediction - 17. The basis of Platts JKM™ is spot cargoes delivered ex-ship into Japan and South Korea, two of the world's largest LNG. handle. TTF time spreads are in unchartered territories: WIN 21-SUM 22 above €10/MWh and Cal 2022-Cal 2023 above €4/MWh. 99M. This is a change of -0. 17, 2022TOCOM Final Settlement Prices Updated (Contract month: November 2022): LNG (Platts JKM) October 17, 2022 at 02:23 am EDT ShareS&P Global's latest JKM price forecast, published Jan. Please refer to this page . Price agency S&P Global Platts' Japan-Korea-Marker (JKM), which is widely used as a spot benchmark in the region, climbed to $56. GOLDPRICE. • JKM price assessment is set by the marginal spot cargo transacted into Asia (and future expectations thereof) On this basis, the Asian LNG spot price marker, JKM, remains a relevant Reference Price Marker in the ECGM especially for short-term (<2 year) gas sales. Access: Multiple routes to access NYMEX products including CME Direct. Oilprice. S. 66 K. 1 month ago. The JKM monthly price for August delivery into northeast Asia rose 18. Crude Oil Futures - Quotes. Nat-gas prices Wednesday recovered from an 8-week low and posted moderate gains on a surprise drop in weekly supplies. 65 $/MMBtu Supply 2018 2018 flows LNG Cross-border piped gas Domestic 0-30 bcm 31-80 bcm 81-150 bcm >150 bcm 2,681 2,726 637 524 432 398. UK NBP Natural Gas (USD/MMBtu) (ICIS Heren) Front Month Futures - Quotes. We're helping shape the future of markets around the world. Learn how we assess the daily JKM™ gas price of this key liquefied natural gas (LNG) & access daily LNG price and news information. 3 index points in April 2023. 이 데이터는 일별, 주별, 또는 월별로 볼. The Northeast Asian assessed spot LNG price JKM for the previous week (9 May-13 May) fell to USD 19/MBtu by the 10th from USD 23/MBtu the previous week, then rebounded to USD 23/MBtu on 12 May, fueled by higher European gas prices, before settling at USD 21/MBtu on 13 May. 369. The U. 00. S. S. 21, down from 12. News, Research & Insights Our independent commodity market news and expertise give customers the confidence to take action. Share Price Today: CLOSE 110. Unsurprisingly, market players are considering the impact of adopting price formulations to include JKM. 10% from one year ago. by evnrandy. 002/MMBtu to date in 2022 compared with $15. 60%. Most recently, JKM futures have registered nearly $8/MMBtu this week with reports of spot prices topping $9 in some markets (see the latest front month prices in the chart below). According to some market sources, JKM prices could. 5 billion […] Find the latest Cheniere Energy, Inc. The JKM for November was assessed $16. Rising demand for RNG has helped push prices for the associated environmental attributes up to anywhere from five to forty times the price of physical natural gas. 2023 - watch on 5 min chart price PRZ on 5min natural gas - 06. 16, 2022TOCOM Final Settlement Prices Updated (Contract month: July 2022): LNG (Platts JKM) June 16, 2022 at 02:33 am EDT SharePreviously, traded volumes for the same quarter were last higher in Q3 2021 when they reached 284,260 lots. Given current momentum, the time it would take to address hurdles to a Chinese benchmark could see the network effect around JKM overcome any challenger price marker. To answer this question, two basic conditions need. These exposures are summarised in Table 2 and are based on the intrinsic schedule in Chart 1. 12, projects a $26. LEZ23 : 174. 845/MMBtu, and. Weekly Dutch TTF gas prices 2021-2023. Learn about alternate ways to access the data in our FAQ. The starting price for 10 grams of gold on the Multi Commodity Exchange (MCX) was Rs. 326 per mmBtu on Wednesday for a cargo delivered into North Asia in. 69%)Free live streaming chart of the Dow Jones 30 Futures. Level Chart. Intraday futures prices are delayed 10 minutes, per exchange rules, and are listed in CST. Japan Crude Cocktail (Detailed) Futures - Quotes. Stretch Corduroy 5-Pocket Slim Pant in teal with belt loops and classic five-pocket styling Inseam approximately 34in Model is 6'2. 58 $/MMBtu JKM benchmark price July 2018: 8. 63/MMBtu, with an equally rapid fall in freight rates. Monthly contracts listed for the current year and the next four calendar years. News & Analysis. Final Settlement Price: Average of the Platts JKM prices during the period from the 16th of the two month prior to the contract month to the 15th of the prior month of the contract month. Gas bullrun this winter We all know that when a war breaks out the prices of energy will go up. Alpha is a factor typically ranging between 1. As the market has grown, so has the need for transparent pricing. WIM reflects cargoes of 1,000-1,150 Btu/scf calorific value, of 3. Tag: JKM prices. 64 per mmBtu compared to $1. S. We estimate that net injections totaled 1,953 Bcf during the 2023 refill season (April 1–October 31), 5% (109 Bcf) less than the five-year average and 9% (203 Bcf) less than last year’s refill season. gas price HH remained on an upward trend from the previous week, maintaining 7’s USD/MBtu due to below normal temperatures, strong LNG demand, and other factors, but settled at 6. Learn about alternate ways to access the data in our FAQ. by Editor. Price of Liquefied Natural Gas Exports by Point of Exit. 475. 11. TTF prices surge by over 25%. Regulatory clarity: NYMEX offers a settled and proven regulatory picture to its participants. 15 16,372 17,158 9,122 6,004 12,058 1,250 7,688 200 4,118 112 17,622 24,846 9,322 10,122 12,170 0 5,000 10,000 15,000 20,000 25,000 30,000 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Dividend from Associates EBITDA from Operations Note:S&P Global Platts Analytics Launches Weekly Platts JKM LNG Forecasts New Report Meets Increased Demand for LNG Price Forecasting and Near-Term Outlook PRPlatts JKM LNG assessments reflect 1030-1130 Btu/scf calorific cargoes of 135,000-175,000 cubic meters delivered into ports in Japan, South Korea, mainland China and Taiwan. secs. Discover historical prices for JPM stock on Yahoo Finance. Natural gas futures fell on Monday for a third session, undermined by tapped down demand forecasts for this week’s cold and production volumes near or at new all-time highs. Futures: 1 lot = 10,000 MMBtu Exchange for Physical (EFP): 1 lot = 10,000 MMBtu Exchange for Swap (EFS): 1 lot = 10,000 MMBtu Block Order : 5 lots = 50,000 MMBtu Price Quotation The contract price is in United States dollar and cent per MMBTU Minimum Price Fluctuation One tenth of one cent per MMBtu ($0. 97, compared with 10. The Final Settlement Price/SQ on each product is updated the day following the last trading day (LTD) which differs depending on each product. 00Welcome to view the price of Natural Gas. 65: Note: The ACCC has published the LNG netback price series and accompanying information to provide general information only. Statista. Naphthapreis (European) 628. This continuous historical price chart for Bloomberg Commodity Index Futures futures (AH, CBOT) is part of a huge collection of historical charts that covers decades of North America futures / commodity trading. 80: 3. It is calculated by taking the price that could be received for LNG. Price of Liquefied Natural Gas Exports by Point of Exit. Investing. Since May, when the JKM Asian spot LNG price bottomed out below $2/MMBtu due to oversupply, the market has enjoyed a remarkable rally, the JKM increasing more than 16-fold to a record high of $32. CHART OF THE WEEK: SUBSCRIBE FOR INSIGHT TO CRACK THE CRUDE OIL MARKETS. Long term JKM price premiums of A$4-6/GJ on HH represent full cycle cost of supply for LNG project development, with seasonal supply and demand imbalances leading to volatility in prices. 01 USD per barrelDelivery Summaries, Daily Settlement Prices, and Notices. RELATED POSTS. New Delhi: Reliance Industries Ltd and its partner bp plc of the UK have sought bids for the sale of natural gas from the eastern offshore KG-D6 block at a price linked to the rate at which LNG is delivered to Japan and Korea. For more data, Barchart Premier members can download historical Intraday, Daily, Weekly, Monthly or Quarterly data on the Dutch TTF Gas Historical Download tab, and can download additional underlying chart data and study values using the Interactive Charts. 360 month history. Beginning Monday, January 8, 2024, CME Group settlement data will no longer be accessible through ftp. 762/MMBtu March 7 because of supply uncertainty and rising prices in the Atlantic. Natural gas market. You'll find the closing price, open, high, low, change and percentage change for the selected range of dates. 60/MMBtu. Clearing. 37/MMBtu in 2021. com and will have a delayed publication time of 12:00 a. Beginning Monday, January 8, 2024, CME Group settlement data will no longer be accessible through ftp. 16 per million Btu, well up on 2020’s average JKM price of US$3. May 2022. News, Research & Insights Our independent commodity market news and expertise give customers the confidence to take action. Find Historical End-of-Day Dutch TTF Gas prices on the Price History page. USD per Tonne. The two partners invited bids for the sale of 6. Asian prices would need to be at a premium of USD 4-5/MMbtu to cover the shipping cost of diverting a cargo to the Pacific, said Hengky, adding the. 71. 87/MMBtu, $32. lng japan/korea marker (platts) futures chart Today −3. Explore real-time Natural Gas Futures price data and key metrics crucial for understanding and navigating the Natural Gas Futures market. 015 does not get violated). ICE Futures Europe. JKM prices are set by global supply and demand balance $4. Make Decisions With Conviction; For full access to real-time updates, breaking news, analysis, pricing and data visualization subscribe today. BIO. Henry Hub has a negative simple correlation to JKM (implying that when JKM decreases, Henry Hub increases). LAUNCHING SOON: MONDAY AND WEDNESDAY WTI WEEKLY OPTIONS. LNG JAPAN/KOREA MARKER. 69%. Corporate spending on energy R&D. Interest in spot LNG cargoes is weak despite the drop in prices in recent weeks. 175. Why Is Europe Not Replacing Russian Pipeline Gas With Long-term LNG Contracts? 2 months ago. 52% in the last 24 hours. Gas price assumptions, 2019-2024 - Chart and data by the International Energy Agency. -3. 2 points from the previous year. Explore offers. 299. 33%).