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Henry Hub Edges Higher Amid Strong Cooling Demand

NATGAS

Henry hub futures are edging higher amid strong demand ahead of a heat wave after easing back in recent days amid curtailed LNG exports and a slight recovery in domestic production.

  • Domestic natural gas demand is today holding at the highest since early April up at 73.95bcf/d according to Bloomberg. The latest NOAA 6-14 day forecast remains unchanged on the day with above normal temperatures expected across most of the Lower 48 throughout the coming two week period.
  • US domestic natural gas production was yesterday up to 101.1bcf/d according to Bloomberg with a slight recovery since reaching a low of 98.99bcf/d on June 12.
  • US LNG export terminal feedgas flows are today at 12.5bcf/d, according to Bloomberg, with Sabine Pass LNG supplies falling again to 4.19bcf/d. Corpus Christi also about 0.65bcf/d below normal amid scheduled maintenance on the nearby Sinton compression station previously expected through June 21.
  • Export flows to Mexico are at 6.37bcf/d today according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures volume was at 462k on June 17.
    • US Natgas JUL 24 up 1.9% at 2.84$/mmbtu
    • US Natgas DEC 24 up 1.2% at 3.77$/mmbtu
    • US Natgas JUN 25 up 1.3% at 3.38$/mmbtu

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