April 03, 2024 17:00 GMT
Henry Hub Erases Earlier Gains
NATGAS
Henry Hub has reversed earlier gains on the day to be trading lower, with pressure from expectations of falling heating demand and already high stock levels.
- US Natgas MAY 24 down 0.5% at 1.85$/mmbtu
- US domestic natural gas production was lower again yesterday at 99.2bcf/d having fallen from just over 101bcf/d on March 31.
- Feedgas flow to US LNG export terminals are today estimated up to 12.73bcf/d after falling to a recent low of 11.36bcf/d yesterday according to Bloomberg. The increase is driven by a recovery in both Sabine Pass and Corpus Christi flows.
- Lower 48 natural gas demand is still above normal with today estimated at 80.9bcf/d according to Bloomberg.
- The US forecast shows as generally warming trend which will help to limit heating demand.
- Export flows to Mexico continue to recover up to 5.9bcf/d today after falling below 5bcf/d late last week according to Bloomberg.
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