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Henry Hub Eases Back from Highest Since Nov Driven by Cold Weather

NATGAS

Henry Hub front month has eased back from gains to the highest since early November at 3.392$/mmbtu seen yesterday as cold weather across the country and steady LNG export demand is weighed against healthy US storage levels.

    • US Natgas FEB 24 down -3.4% at 3.08$/mmbtu
    • US Natgas JUL 24 down -2.1% at 2.89$/mmbtu
    • US Natgas JAN 25 down -1.3% at 4.02$/mmbtu
  • Domestic natural gas demand was relatively unchanged from yesterday and just above normal at 101.2bcf/d according to Bloomberg. The US is showing temperatures well below normal in the coming two weeks as cold moves across from the West to East Coast. Overall, the lower 48 forecast falls below normal this coming weekend and remains below throughout the remainder of the outlook.
  • Feedgas supplies to US LNG export terminals are today back up slightly to 14.65bcf/d according to Bloomberg after a dip in Sabine Pass flows earlier this week.
  • US natural gas production was yesterday down at 103.55bcf/d according to Bloomberg with a drop in pipeline system flows from all US production basins.
  • Export flows to Mexico are today at 6.38bcf/d after a recovery from start of the year lows.

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