February 04, 2025 17:45 GMT
US NATGAS: Henry Hub Eases Losses
US NATGAS
Henry Hub has pared earlier gains after falling to an intraday low of $3.171/MMBtu but continues to trade lower on the day. Pressure comes as the market weighs the risk of another spell of cold weather in mid-February with near record production levels.
- US Natgas MAR 25 down 1.4% at 3.31$/mmbtu
- US Natgas APR 25 down 0.7% at 3.31$/mmbtu
- Lower 48 natural gas demand ticked up on the day back to near normal levels at 98.5bcf/d today, according to Bloomberg. Average Lower 48 temperatures are forecasts above normal this week but with colder weather spreading southwards into the second week of the outlook.
- US domestic natural gas production is holding near record highs, estimated at 106.4bcf/d today, Bloomberg shows.
- Some producers plan to limit growth in 2025 until there's a sustained market demand for more supply, Platts said.
- US LNG export terminal feedgas has fallen to 13.85bcf/d today driven by a drop in supply to Sabine Pass and Corpus Christi to counter an increase to Plaquemines, according to Bloomberg.
- Export flows to Mexico are steady at 6.07bcf/d today but below supply over 6.6bccf/d last week, according to Bloomberg.
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