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Henry Hub Drifts Lower with Healthy Supplies and a Dip in LNG Exports

NATGAS

US Henry Hub is easing back down after seeing a recovery higher on improved economic sentiment in recent days. Strong production levels, healthy storage for this time of year, a dip in LNG exports and near normal demand are all adding to the bearish pressure.

    • US Natgas JUN 23 down -0.7% at 2.22$/mmbtu
  • Total deliveries to US LNG export terminals are down from the record shipments seen in April with today estimated at 12.17bcf/d according to Bloomberg mostly due to lower flows to Corpus Christi.
  • Natural gas production was yesterday up to 101.3bcf/d compared to levels just below 97bcf/d seen this time last year.
  • Domestic demand is holding within the five year range with today estimated at 65.3bcf/d. The latest NOAA outlook has cooled the forecast in eastern areas in the 6-10 day period. The forecast now shows above normal temperatures are expected in the west but temperatures in the rest of the country are expected closer to normal.
  • Export flows to Mexico were yesterday around 5.8bcf/d.
Energy BulletsCommoditiesUS
Energy BulletsCommoditiesUS

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