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NATGAS
Henry Hub front month falls towards the low of last week at 2.02$/mmbtu driven by curtailed LNG export flows while domestic supply is stable having recovered from disruption during January.
- US Natgas MAR 24 down -1.3% at 2.06$/mmbtu
- US Natgas AUG 24 down -1.3% at 2.52$/mmbtu
- US Natgas FEB 25 down -0.7% at 3.59$/mmbtu
- Feedgas supply to US LNG export terminals are today down to 13.09bcf/d according to Bloomberg with supply to Corpus Christi falling to about 1.2bcf/d below normal and Freeport still 0.6bcf/d below.
- US domestic gas production was yesterday relatively unchanged on the day at 104.2bcf/d according to Bloomberg with an average of 104.6bcf/d so far in Feb and in line with the average from Dec after the disruption during Jan.
- Warm weather is moving eastwards across the country in the coming week to be replaced by slightly below normal temperatures across much of the country in the 8-14 day period according to NOAA. Lower 48 natural gas demand has today increased to near normal at 96.6bcf/d.
- Export flow to Mexico is back up to 6.2bcf/d today after dropping over the weekend.
Source: Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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