Henry Extends Decline Amid Warm Weather and Steady Supplies

Henry Hub front month is falling again to the lowest since July 2020 with the temperature forecast holding generally above normal to keep late winter heating demand subdued.

• US Natgas MAR 24 down -1.1% at 1.67$/mmbtu
• US Natgas AUG 24 down -1.1% at 2.3$/mmbtu
• US Natgas FEB 25 down -0.8% at 3.51$/mmbtu
• The US weather forecast has turned warmer in the 6-14 day period with above normal now expected in central areas although temperatures are expected to remain near normal on the east and west coasts. Domestic natural gas demand is again just below normal today at 94.1bcf/d according to Bloomberg.

• US lower 48 gas production was yesterday slightly down on the day to 104.1bcf/d according to Bloomberg with a small dip in Permian and Rockies flows.
• Feedgas flows to US LNG export terminals are holding steady today at 13.75bcf/d with Freeport LNG flows still curtailed and Corpus Christi and Calcasieu Pass slightly below end of Jan levels.
• Export flow to Mexico is at 5.89bcf/d today and still below flows of around 6.2bcf/d late last week.