April 29, 2024 12:08 GMT
Henry Hub Edges Higher Amid Partial Freeport Restart
NATGAS
Henry Hub front month edges higher as feedgas to LNG export terminals recovers with the restart of one train at Freeport LNG.
- US Natgas JUN 24 up 0.4% at 1.93$/mmbtu
- US Natgas NOV 24 up 0.2% at 2.95$/mmbtu
- US Natgas MAY 25 up 0.3% at 3.11$/mmbtu
- Feedgas flow to US LNG export terminals are estimated back up to 12.92bcf/d according to Bloomberg. Freeport LNG restarted one liquefaction train over the weekend according to Bloomberg sources as feedgas to the facility rose to the highest since April 9 at 0.83bcf/d today.
- US domestic natural gas production is today estimated at 97.9bcf/d today according to Bloomberg compared to an average of 98.4bcf/d in the last week and 99.6bcf/d so far in April.
- Natural gas demand averaged just above the normal for the time of year of about 67bcf/d last week. The latest two week temperature forecast shows above normal temperatures across most of the US in the 6-10 day period but with temperatures on the west coast falling below normal in the 8-14 day period.
- Export flows to Mexico are today at 6.1bcf/d according to Bloomberg.
- Nymex Henry Hub daily aggregate traded futures volume was down at 306k on April 26.
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