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NATGAS: Henry Hub Easing Back on Week

NATGAS
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Henry Hub front month is losing ground today and is softening around 6.5% on the week. Prices remain elevated, but indications of slightly milder-than-expected weather has added some pressure.

  • US Natgas FEB 25 down 5.3% at 3.47$/mmbtu
  • US Natgas MAR 25 down 3.8% at 3.02$/mmbtu
  • The NOAA 6-14 forecast still shows below normal temperatures in the Midwest and East Coast, but above normal in the Mountain and Pacific regions. However, the colder weather is abating towards the end of that period.
  • Lower 48 natural gas demand has risen to 104.1 bcf/d today, the highest since Dec. 22 according to Bloomberg. This compares to the weekly average of 90.8 bcf/d
  • US LNG export terminal feedgas is strong at 14.71bcf/d today, a new record level according to BNEF data.   
  • US domestic natural gas production was estimated at 104.9 bcf/d yesterday, according to Bloomberg, down from the 7-day average of 106.0 bcf/d.
  • Export flows to Mexico is 5.47cf/d today, according to Bloomberg.
  • EIA weekly storage data is due today at 10:30 ET. Bloomberg predicts a draw of 126 bcf. The WSJ predicts a draw of 131 bcf while Reuters sees a smaller draw of 124 bcf.
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Henry Hub front month is losing ground today and is softening around 6.5% on the week. Prices remain elevated, but indications of slightly milder-than-expected weather has added some pressure.

  • US Natgas FEB 25 down 5.3% at 3.47$/mmbtu
  • US Natgas MAR 25 down 3.8% at 3.02$/mmbtu
  • The NOAA 6-14 forecast still shows below normal temperatures in the Midwest and East Coast, but above normal in the Mountain and Pacific regions. However, the colder weather is abating towards the end of that period.
  • Lower 48 natural gas demand has risen to 104.1 bcf/d today, the highest since Dec. 22 according to Bloomberg. This compares to the weekly average of 90.8 bcf/d
  • US LNG export terminal feedgas is strong at 14.71bcf/d today, a new record level according to BNEF data.   
  • US domestic natural gas production was estimated at 104.9 bcf/d yesterday, according to Bloomberg, down from the 7-day average of 106.0 bcf/d.
  • Export flows to Mexico is 5.47cf/d today, according to Bloomberg.
  • EIA weekly storage data is due today at 10:30 ET. Bloomberg predicts a draw of 126 bcf. The WSJ predicts a draw of 131 bcf while Reuters sees a smaller draw of 124 bcf.