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Henry Hub Extends Decline

NATGAS

Henry Hub front month is extending its decline today and is on track for its lowest close since May 14.

  • US Natgas AUG 24 down 2.5% at 2.36$/mmbtu
  • US Natgas JAN 25 down 1.2% at 3.68$/mmbtu
  • The EIA weekly gas inventories for the week ending June 28 showed an injection of 32bcf compared to the seasonal normal injection of 69bcf.
  • US domestic natural gas production is today estimated at 102.1bcf/d, according to Bloomberg. The start-up of long-term shipping contracts on the Mountain Valley Pipeline is already boosting gas transmissions on the new line, further supporting a rebound in Appalachian production, Platts said.
  • US LNG export terminal feedgas flows are today estimated back up to 12.9bcf/d.
  • Domestic natural gas demand is today slightly lower at 73.7bcf/d according to Bloomberg.

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