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Henry Hub Falls

NATURAL GAS

US Henry Hub front month is continuing to trade lower on the day and is set for on the week losses, driven by a gas storage surplus, strong domestic production, a dip in LNG export flows and near normal weather.

  • US Natgas NOV 23 down -1.7% at 2.91$/mmbtu
  • US Natgas APR 24 down -0.3% at 3.05$/mmbtu
  • The latest EIA weekly gas inventories for the week ending 13 Oct showed a larger than expected build of +97bcf compared to the five-year average for this time of year of +85bcf. The total US inventories remain above normal at 3,626bcf compared to the average of 3,429bcf.
  • US domestic natural gas production was yesterday stable at 103.1bcf/d according to Bloomberg compared to the average so far this month at 102.1bcf/d.
  • Natural gas deliveries to US LNG export facilities are today at 14.0bcf/d according to Bloomberg with supplies down from the high of 14.6bcf/d on 17 Oct.
  • Lower 48 dry gas demand is holding near the five-year average for the time of year at 67.2bcf/d today according to Bloomberg.
  • Warmer than normal temperatures are expected in northern parts of the US according to the annual Winter Outlook from NOAA which could reduce heating demand and weigh on natural gas prices this winter.
  • Export flows to Mexico are today estimated at 6.28bcf/d.
Energy BulletsCommodities
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