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Henry Hub Edges Higher Ahead of EIA Storage Data

NATGAS
Energy BulletsCommoditiesUS

Henry Hub front month is trading up on the day after a dip down to just above $1.6/mmbtu earlier ahead of the updated EIA natural gas storage data today.

    • US Natgas MAY 24 up 1% at 1.67$/mmbtu
    • US Natgas OCT 24 up 0.2% at 2.55$/mmbtu
    • US Natgas APR 25 up 0.4% at 3.08$/mmbtu
  • The EIA weekly gas inventories for the week ending Apr. 19 will be released this afternoon at 10:30 ET (15:30BST). The expectation is for a build of 84bcf according to a Bloomberg survey following a build of 50bcf the previous week. The seasonal normal is a build of 64bcf.
  • Feedgas flow to US LNG export terminals are estimated back down to 11.3bcf/d according to Bloomberg as the Freeport terminal struggles to restart. The US Freeport LNG export terminal reported a trip on the third liquefaction train according to a TCEQ filing yesterday. Feedgas flows have again fallen back to just 0.05bcf/d yesterday and today according to Bloomberg data. Feedgas flows to Corpus Christi and Sabine Pass are also slightly lower on the day.
  • US domestic natural gas production edged back up to 98.7bcf/d yesterday according to Bloomberg and back closer to the average of 99.1bcf/d from the previous week.
  • Natural gas demand is again slightly higher at 70.8bcf/d today according to Bloomberg. The latest two week temperature forecast has turn further above normal for central and eastern areas but the west coast is holding onto below normal in the 6-14 day period.
  • Export flows to Mexico are today at 6.84bcf/d according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures volume was at 429k on April 24.
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Henry Hub front month is trading up on the day after a dip down to just above $1.6/mmbtu earlier ahead of the updated EIA natural gas storage data today.

    • US Natgas MAY 24 up 1% at 1.67$/mmbtu
    • US Natgas OCT 24 up 0.2% at 2.55$/mmbtu
    • US Natgas APR 25 up 0.4% at 3.08$/mmbtu
  • The EIA weekly gas inventories for the week ending Apr. 19 will be released this afternoon at 10:30 ET (15:30BST). The expectation is for a build of 84bcf according to a Bloomberg survey following a build of 50bcf the previous week. The seasonal normal is a build of 64bcf.
  • Feedgas flow to US LNG export terminals are estimated back down to 11.3bcf/d according to Bloomberg as the Freeport terminal struggles to restart. The US Freeport LNG export terminal reported a trip on the third liquefaction train according to a TCEQ filing yesterday. Feedgas flows have again fallen back to just 0.05bcf/d yesterday and today according to Bloomberg data. Feedgas flows to Corpus Christi and Sabine Pass are also slightly lower on the day.
  • US domestic natural gas production edged back up to 98.7bcf/d yesterday according to Bloomberg and back closer to the average of 99.1bcf/d from the previous week.
  • Natural gas demand is again slightly higher at 70.8bcf/d today according to Bloomberg. The latest two week temperature forecast has turn further above normal for central and eastern areas but the west coast is holding onto below normal in the 6-14 day period.
  • Export flows to Mexico are today at 6.84bcf/d according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures volume was at 429k on April 24.