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Henry Hub Extends Gains After Support from EIA Storage Data

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Henry Hub is heading for a net gain on the week with EIA data yesterday showing a smaller than expected injection into storage to add to the ongoing bullish trend driven by concern for US production.

    • US Natgas JUN 24 up 1.6% at 2.53$/mmbtu
    • US Natgas NOV 24 up 0.4% at 3.13$/mmbtu
    • US Natgas MAY 25 up 0.5% at 3.1$/mmbtu
  • The EIA weekly gas inventories for the week ending May 10 showed a smaller than expected injection of 70bcf compared to the seasonal normal injection of 88bcf. US storage inventories continue to hold a strong surplus with total stocks at 2,633bcf compared to the previous five year average of 2,013bcf.
  • US terminal feedgas flows are today at 13.17bcf/d today according to Bloomberg with supplies to Sabine Pass and Cameron still curtailed while Freeport supplies are back above 2bcf/d after a brief dip again yesterday.
  • US domestic natural gas production is today estimated at 99.4bcf/d according to Bloomberg, in line with levels seen in recent days.
  • Domestic natural gas demand has remained stable this week and at 65.5bcf/d today according to Bloomberg. The latest US weather forecast is again unchanged with above normal temperatures expected in the Gulf Coast and Atlantic regions but below normal in the north and west coast throughout the 6-14 day period.
  • Export flows to Mexico are today at 6.50bcf/d today according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures volume was high up at 676k on May 16.
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Henry Hub is heading for a net gain on the week with EIA data yesterday showing a smaller than expected injection into storage to add to the ongoing bullish trend driven by concern for US production.

    • US Natgas JUN 24 up 1.6% at 2.53$/mmbtu
    • US Natgas NOV 24 up 0.4% at 3.13$/mmbtu
    • US Natgas MAY 25 up 0.5% at 3.1$/mmbtu
  • The EIA weekly gas inventories for the week ending May 10 showed a smaller than expected injection of 70bcf compared to the seasonal normal injection of 88bcf. US storage inventories continue to hold a strong surplus with total stocks at 2,633bcf compared to the previous five year average of 2,013bcf.
  • US terminal feedgas flows are today at 13.17bcf/d today according to Bloomberg with supplies to Sabine Pass and Cameron still curtailed while Freeport supplies are back above 2bcf/d after a brief dip again yesterday.
  • US domestic natural gas production is today estimated at 99.4bcf/d according to Bloomberg, in line with levels seen in recent days.
  • Domestic natural gas demand has remained stable this week and at 65.5bcf/d today according to Bloomberg. The latest US weather forecast is again unchanged with above normal temperatures expected in the Gulf Coast and Atlantic regions but below normal in the north and west coast throughout the 6-14 day period.
  • Export flows to Mexico are today at 6.50bcf/d today according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures volume was high up at 676k on May 16.