May 24, 2024 18:18 GMT
End of Day Gas Summary: Henry Hub Falls on Week
NATGAS
Henry Hub has fallen to its lowest level since May 17 as front month readjusts following a sustained rise throughout May.
- US Natgas JUN 24 down 3.8% at 2.56$/mmbtu
- US Natgas NOV 24 down 2.1% at 3.21$/mmbtu
- US total gas rig count fell by 4 on the week to 99 rigs, according to Baker Hughes.
- US domestic natural gas production was yesterday stable at 100.1bcf/d according to Bloomberg.
- El Paso Natural Gas Company has declared a force majeure on lines 30131/30148 in the Hobbs Area, according to its website.
- US terminal feedgas flows are today estimated at 12.93bcf/d according to Bloomberg.
- Domestic natural gas demand is today at 66.65bcf/d according to Bloomberg.
- European gas storage was 68% full on May 22 vs the 5-yr seasonal norm of 54% for this time of year according to GIE.
- France's Fos Tonkin terminal is out for maintenance, with no regas capacity from 25 May to 9 June according to ICIS.
- Asia’s LNG prices rose to the highest level in five months as a production disruption in Brunei could further constrict supply.
- Russia could be building an ‘LNG dark fleet’ to transport natural gas cargoes in the face of Western sanctions, Platts said.
- Colombia’s natural gas reserves are enough for around 6.1 years, with total reserves falling 16% on the year in 2023.
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