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NATGAS: Henry Hub Eases Back After Surge to High of $4.369/mmbtu

NATGAS
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Henry Hub is easing back down after rising to a high of $4.369/mmbtu earlier today as cold weather continues to support domestic demand but with upside limited by a slight recover in production and drop in LNG terminal feedgas flows.

  • Lower 48 natural gas demand remains above normal at 115.6bcf/d today, according to Bloomberg, compared to the previous five year average of around 100bcf/d. The NOAA 6-14 day temperature forecast shows below normal across the US throughout the period.
  • US domestic natural gas production is estimated back up to 104.2bcf/d yesterday, according to Bloomberg, after a drop as low as 101.3bcf/d on Jan. 1 due to cold weather.
  • US LNG export terminal feedgas is estimated down at 13.8bcf/d today, according to Bloomberg, driven by a drop of about 0.6bcf/d in supply to both Sabine Pass and Freeport LNG.
  • Export flows to Mexico are today estimated at 6.33bcf/d, according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures was 790k on Jan. 10.
    • US Natgas FEB 25 up 1.7% at 4.06$/mmbtu
    • US Natgas MAR 25 up 1.3% at 3.44$/mmbtu
    • US Natgas JAN 26 up 0.8% at 4.74$/mmbtu
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Henry Hub is easing back down after rising to a high of $4.369/mmbtu earlier today as cold weather continues to support domestic demand but with upside limited by a slight recover in production and drop in LNG terminal feedgas flows.

  • Lower 48 natural gas demand remains above normal at 115.6bcf/d today, according to Bloomberg, compared to the previous five year average of around 100bcf/d. The NOAA 6-14 day temperature forecast shows below normal across the US throughout the period.
  • US domestic natural gas production is estimated back up to 104.2bcf/d yesterday, according to Bloomberg, after a drop as low as 101.3bcf/d on Jan. 1 due to cold weather.
  • US LNG export terminal feedgas is estimated down at 13.8bcf/d today, according to Bloomberg, driven by a drop of about 0.6bcf/d in supply to both Sabine Pass and Freeport LNG.
  • Export flows to Mexico are today estimated at 6.33bcf/d, according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures was 790k on Jan. 10.
    • US Natgas FEB 25 up 1.7% at 4.06$/mmbtu
    • US Natgas MAR 25 up 1.3% at 3.44$/mmbtu
    • US Natgas JAN 26 up 0.8% at 4.74$/mmbtu