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US NATGAS: Henry Hub Extends Decline Amid Mild Forecast

US NATGAS
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Henry Hub extends the decline this week driven by a warm weather forecast for southern US, easing demand pressures after the cold weather last week.

  • Lower 48 natural gas demand continues to pull back from the high levels last week to near normal at 102.8bcf/d today, according to Bloomberg. The US forecast shows a mixed pictures but with average Lower 48 temperatures generally above normal in the coming two weeks. The NOAA 6-14 day forecast shows above normal temperatures in the south but colder in the north.
  • US domestic natural gas production is estimated relatively unchanged in recent days at 104.1bcf/d today, according to Bloomberg.
  • US LNG export terminal feedgas is holding at 14.33bcf/d today, according to Bloomberg despite a slight dip in Plaquemines feedgas this week so far to 0.86bcf/d.
  • Export flows to Mexico are at 6.16bcf/d today, according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures was at 535k on Jan. 27.
    • US Natgas FEB 25 down 4.5% at 3.53$/mmbtu
    • US Natgas JUL 25 down 2.5% at 3.67$/mmbtu
    • US Natgas JAN 26 down 1.7% at 4.66$/mmbtu
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Henry Hub extends the decline this week driven by a warm weather forecast for southern US, easing demand pressures after the cold weather last week.

  • Lower 48 natural gas demand continues to pull back from the high levels last week to near normal at 102.8bcf/d today, according to Bloomberg. The US forecast shows a mixed pictures but with average Lower 48 temperatures generally above normal in the coming two weeks. The NOAA 6-14 day forecast shows above normal temperatures in the south but colder in the north.
  • US domestic natural gas production is estimated relatively unchanged in recent days at 104.1bcf/d today, according to Bloomberg.
  • US LNG export terminal feedgas is holding at 14.33bcf/d today, according to Bloomberg despite a slight dip in Plaquemines feedgas this week so far to 0.86bcf/d.
  • Export flows to Mexico are at 6.16bcf/d today, according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures was at 535k on Jan. 27.
    • US Natgas FEB 25 down 4.5% at 3.53$/mmbtu
    • US Natgas JUL 25 down 2.5% at 3.67$/mmbtu
    • US Natgas JAN 26 down 1.7% at 4.66$/mmbtu