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Henry Hub Drifts Down from 3$/mmbtu Peak Last Week

NATGAS

US Henry Hub is slightly down on the day as the market drifts down from a peak of nearly 3$/mmbtu on 29 Sep.

    • US Natgas NOV 23 down -1.3% at 2.89$/mmbtu
    • US Natgas APR 24 down -1% at 2.97$/mmbtu
    • US Natgas OCT 24 down -0.8% at 3.35$/mmbtu
  • Natural gas deliveries to US LNG export terminals are today stable at 12.56bcf/d according to Bloomberg but still curtailed due to the Cove Point maintenance taking about 0.75bcf/d offline.
  • Domestic natural gas consumption has increased in the last few days after a dip lower in the second half of September. Demand is up to 70.5bcf/d according to Bloomberg in line with the seasonal trend at the start of the winter heating season. The latest NOAA outlook shows above normal temperatures in the west in the 6-10 day period spreading into more central areas in the 8-14 day period. Below normal temperatures in the East heading in to next week are expected to return toward normal into the middle of October.
  • US domestic natural gas production was yesterday estimated at 100.6cf/d according to Bloomberg compared to the average of 101.45bcf/d in September.
  • Export flows to Mexico are today estimated still high at 7.06bcf/d.
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