Henry Hub Climbs on Warmer Weather

US Henry Hub front month has pared earlier gains but remains trading higher on the day amid warm weather and lower production levels relative to last year. Front month remains on track for its highest close since mid-January.

• US Natgas JUL 24 up 1.1% at 2.95$/mmbtu
• US Natgas DEC 24 up 1% at 3.79$/mmbtu
• US cooling demand in heating degree days was 10 above the norm for the week to June 8, according to Bloomberg.
• The NOAA 6–14-day forecast shows above normal temperatures are expected throughout most of the US except for the far northwest and with the largest anomaly in eastern areas.
• The North American Electric Reliability Council said in its annual summer report that there are elevated risks of energy shortfalls across parts of the US and Canada in the event of higher-than-expected temperatures, the WSJ said cited by Bloomberg.
• US domestic natural gas production edged back just above 100bcf/d yesterday according to Bloomberg compared to an average of 100.7bcf/d in the first half of June 2023.
• Domestic natural gas demand remains steady at 68.5bcf/d according to Bloomberg.
• US terminal feedgas flows are today at 12.84bcf/d according to Bloomberg with supplies to Sabine Pass still below normal and with a slight dip in supply to Calcasieu Pass.