December 27, 2024 14:51 GMT
NATGAS: Colder Weather Supporting Higher HH Pricing
NATGAS
U.S. natgas prices remain supported with some early cold January weather expected and the latest EIA weekly storage report expected to show a draw in some polls.
- US Natgas JAN 25 up 0.9% at 3.75$/mmbtu
- Inventories likely saw a withdrawal of 97 Bcf last week, according to a WSJ poll.
- Gas inventories probably fell by 100 bcf last week, based on median of analyst estimates compiled by Bloomberg. Five-year average gas inventory change for week ended Dec. 20 was -127 bcf.
- While 2024 will end with above-normal temperatures across the lower-48 US states, colder air will move into central, eastern states Jan. 1-5 and intensify in following 5 days according to Maxar.
- Venture Global LNG said Thursday that it has shipped its first commissioning cargo from the Plaquemines LNG facility it is building in Louisiana to Germany.
- Lower-48 dry gas production on Friday ~106.4 bcf/day, or +1.2% y/y
- Lower-48 total gas demand ~93 bcf/day, or +6.8% y/y
- January contract expires later Friday.
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