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Henry Hub Extends Gains

NATGAS

Henry Hub is extending its uptick today, support by the gradual return of Freeport LNG from an outage. Front month is at its highest since July 15.

  • US Natgas AUG 24 up 5.9% at 2.25$/mmbtu
  • US Natgas JAN 25 up 2.2% at 3.7$/mmbtu
  • US LNG export terminal feedgas flows are today at 11.43bcf/d according to Bloomberg. A second tanker has arrived at Freeport LNG since the facility resume production, according to Bloomberg.
  • US domestic natural gas production was at 102.0bcf/d yesterday compared to output of around 101bcf/d this time last year.
  • Domestic lower 48 natural gas demand is holding just above seasonal normal levels at 76.4bcf/d today.
  • The US weather forecast has trended slightly warmer over the weekend with the biggest anomalies above normal expected in central and normal areas but with nearer normal expected towards the Gulf and West Coasts.
  • US cooling demand for the week ending July 27 is forecast to be 9 cooling degree days (CDD) above the long-term normal, according to Bloomberg, citing the NOAA.

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