Free Trial

Henry Hub Erases Gains

NATURAL GAS

Henry Hub has erased almost all of its daily gains, and was trading lower for a brief period, as wider falls in the energy complex driven by conflicting information on the potential for a ceasefire between Israel and Hamas.

  • US Natgas NOV 23 up 0.2% at 3.22$/mmbtu
  • US Natgas APR 24 up 1% at 3.16$/mmbtu
  • US Natgas OCT 24 up 0.6% at 3.48$/mmbtu
  • US Natgas 1-2 spread down 0$/mmbtu at -0.31$/mmbtu
  • Domestic natural gas production yesterday fell to 102.68bcf/d from 103bcf/d the day before but remained well above the seasonal average.
  • US natural gas demand is estimated lower today below the five-year range 65.72bcf/d, from 65.86bf/d yesterday. The latest 6-10 days weather forecast shows an upward revision in temperatures throughout the US, with above average weather in Western US, while Eastern US temperatures are leaning towards below the seasonal norm.
  • Feedgas deliveries to US LNG export facilities rose on the day to 13.81bcf/d, up from 13.53bcf/d the day before and above the 30-day moving average of 13.44bcf/d. Flows to Sabine Pass increased to 4.49bcf/d, from 4.35bcf/d on Thursday.
  • Export flows to Mexico are today estimated at 6.93bcf/d.
  • The latest EIA weekly gas inventories for the week ending 13 October showed a build of +74bc, compared to a Bloomberg survey expecting +80.27bcf and the five-year average for time of year of +66bcf. The total US inventories remain above normal at 3,700bcf as of 20 October, compared with the five-year normal at 3,517bcf.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.