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Henry Hub Continues Recovery but Still Down on Month

NATGAS

The Henry Hub Apr24 contract is today extending a slow recovery from the low levels seen early last week amid a small recovery in demand and stable supplies.

    • US Natgas APR 24 up 2.1% at 1.85$/mmbtu
    • US Natgas SEP 24 up 0.2% at 2.54$/mmbtu
    • US Natgas MAR 25 up 0.2% at 3.23$/mmbtu
  • Lower 48 natural gas demand is estimated slightly higher on the day at 81.7bcf/d according to Bloomberg but still below the seasonal five year average. The latest NOAA 6-14 weather forecast still shows above normal temperatures in eastern US and below normal in the west while overall lower 48 temperatures hold above normal.
  • Feedgas flows to US LNG export terminals are stable at 13.8bcf/d according to Bloomberg. Slightly below normal supply to Calcasieu Pass is adding to the ongoing Freeport train 3 outage which was this week extended for a further two weeks. The works were previously expected to be completed this week.
  • US gas production was at in line with the average over the previous week at 102.5bcf/d yesterday according to Bloomberg after a steady decline since Feb. 7.
  • Export flow to Mexico is today at 6.33bcf/d according to Bloomberg.
Energy BulletsCommoditiesUS
Energy BulletsCommoditiesUS

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