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NATGAS: Henry Hub Extends Losses

NATGAS

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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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.