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Henry Hub Extends Decline Amid Thin Holiday Trading Volumes

NATGAS

Henry Hub extends the trend lower in place since January amid comfortable supplies and muted demand in thin trading due to the US holiday today.

    • US Natgas MAR 24 down -3.2% at 1.56$/mmbtu
  • Domestic natural gas demand is slightly down on the day at 94.3bcf/d after edging slightly above normal over the weekend according to Bloomberg. The two week weather forecast shows above normal temperatures dominating across the US although with cooler weather holding on in the west coast region.
  • US lower 48 gas production is today down to around 103.4bcf/d according to Bloomberg. Production has fallen from over 105bcf/d in early Feb but remains above levels seen this time last year of around 100bcf/d.
  • Feedgas flows to US LNG export terminals are today at 13.3bcf/d with Sabine Pass flows falling over the weekend while Freeport train 3 remains offline since mid Jan. Freeport train 1 tripped over the weekend due to a compressor issue but flows have recovered after a restart.
  • Export flow to Mexico is today at 5.6bcf/d according to Bloomberg.
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