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Henry Hub Boosted by Freeport Optimism

NATGAS

Henry Hub has gained ground and is edging towards the intraday highs seen April 19. A recovery in LNG flows amid hopes of a return to Freeport is providing support.

  • US Natgas MAY 24 up 2.1% at 1.79$/mmbtu
  • US Natgas OCT 24 up 1.8% at 2.58$/mmbtu
  • Feedgas flow to US LNG export terminals are estimated back up to 12.0bcf/d today according to Bloomberg from a low of 9.2bcf/d on April 20.
  • Freeport LNG feedgas flows are today estimated back up to 0.62bcf/d and the first LNG tanker in 11 days arrived at the terminal on Saturday according to LSEG.
  • US domestic natural gas production was steady at 99.15bcf/d yesterday according to Bloomberg compared an average of 98.9bcf/d in the previous week.
  • Natural gas demand has been holding above the previous five year average since April 18 and today steady at 71.3bcf/d according to Bloomberg.
  • The NOAA 6-14 day outlook is relatively unchanged with slightly below normal expected on the west coast but above normal temperatures expected throughout the remainder of the country.

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