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Henry Hub Edges Higher Ahead of EIA Storage Data

NATGAS

Front month Henry Hub is edging higher after a pull back late yesterday as strong US production is set against a cooler weather forecast for the southern US and ahead of the update EIA storage data.

    • US Natgas FEB 24 up 1.1% at 2.46$/mmbtu
    • US Natgas JUL 24 up 0.2% at 2.62$/mmbtu
    • US Natgas JAN 25 down -0.1% at 3.73$/mmbtu
  • The EIA weekly gas inventories for the week to Dec 22 will be released this afternoon at 10:30 ET (15:30 GMT). The expectation for a draw of -78bcf according to a Bloomberg survey compared to the seasonal normal draw of -126bcf and the draw of -87bcf seen last week.
  • Feedgas supplies to US LNG export terminals are down slightly to 14.26bcf/d today according to Bloomberg with feedgas flows to Corpus Christi about 0.7bcf/d below normal.
  • Lower 48 natural gas demand is up slightly on the day and back just above normal at 89.9bcf/d according to Bloomberg. The two week lower 48 temperature forecast is holding just above normal although the NOAA forecast is showing slightly below normal temperatures in the southern half of the US.
  • US natural gas production was yesterday steady at 105.0bcf/d according to Bloomberg compared to an average of 105.6bcf/d over the previous week.
  • Export flows to Mexico are today at 5.77bcf/d according to Bloomberg.

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