December 13, 2024 17:32 GMT
NATGAS: Henry Hub Extends Losses
NATGAS
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Henry Hub has extended its losses on the day to completely reverse yesterday’s storage withdrawal related gains. Rising temperatures and lower residential demand are adding pressure.
- US Natgas JAN 25 down 5.2% at 3.28$/mmbtu
- US Natgas FEB 25 down 3.4% at 3.1$/mmbtu
- EBW Analytics sees possibility of 19 Bcf/d demand loss next week though Christmas week looks colder. Jan gas down 3.1% at $3.35/mmBtu.
- The EIA weekly gas inventories showed a larger than expected withdrawal for the week ending Dec. 6 at 190bcf.
- US natural gas storage likely saw an above-average draw of 119 bcf in the week to Dedc. 13, according to a Reuters survey.
- US LNG export terminal feedgas supply is estimated near the highest since January at 14.32bcf/d today, BNEF said.
- Lower 48 natural gas demand edges lower to 106.3bcf/d today but remain above normal, according to Bloomberg.
- The NOAA forecast has cooled slightly with above normal still in the west but near normal spreading further from the west in the 6–10-day period. The 8–14-day forecast shows below normal on the East Coast.
- US domestic natural gas production rose to the highest since Feb. at 105.7bcf/d yesterday, according to Bloomberg.
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