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Henry Hub Falls Amid Shift to Warmer Weather Later in Jan

NATGAS

Henry Hub has fallen from a high of $3.377/mmbtu on Friday despite the cold this week with a shift to warmer weather later in January and amid a decline in LNG export terminal feedgas.

    • US Natgas FEB 24 down -5.5% at 3.13$/mmbtu
    • US Natgas JUL 24 down -3.2% at 2.81$/mmbtu
    • US Natgas JAN 25 down -2.1% at 4.02$/mmbtu
  • Domestic natural gas demand has spiked up to the highest since late December 2022 at 129.8.0bcf/d today according to Bloomberg. The latest US weather forecast shows cold weather moving eastwards across the country this week turning to above normal across the US in the 8-14 day period according to NOAA.
  • Feedgas intake into US LNG liquefaction terminals has fallen to its lowest level since Oct 4 at 12.488 bcf/d, according to Bloomberg data and down 16.9% from near record levels of 15.03 bcf/d on Jan 12. Supply has fallen amid extremely cold weather and the halt to some vessel pilot services.

US natural gas production yesterday fell to 97.3bcf/d according to Bloomberg with pipeline flows from all US production basins falling amid the current severe cold.

  • Export flows to Mexico are today back up slightly to 6.0bcf/d after a dip lower over the weekend.

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