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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.
NATGAS
US Henry Hub is trading down on the day with a drop in LNG feedgas flow due to maintenance works. Expectation of another below normal natural gas storage build is adding some market support after seeing the storage surplus falling since the start of July.
- US Natgas OCT 23 down -1.4% at 2.69$/mmbtu
- US Natgas MAR 24 down -0.9% at 3.2$/mmbtu
- US Natgas SEP 24 down -0.6% at 3.24$/mmbtu
- Feedgas intake into Cheniere’s Sabine Pass LNG terminal has dropped 0.8bcf/d on the day to its lowest level since Aug. 21, according to Bloomberg. The drop in supply adds to the halt to Cove Point flows yesterday with the start of an expected four week seasonal maintenance. Total natural gas delivery flows to US LNG export terminals are today estimated down at 11.65bcf/d
- The latest EIA weekly gas inventories for the week ending 15 Sep will be released this afternoon at 15:30BST. The expectation is for a build of +64bcf according to a Bloomberg survey compared to a build of +57bcf last week and the seasonal normal of +89bcf.
- US domestic natural gas production was yesterday steady at 101.2bcf/d after the dip to 100.5bcf/d last week.
- Domestic natural gas consumption is today estimated in line with the seasonal normal at 65.6bcf/d. The latest two week NOAA forecast is relatively unchanged from yesterday with below normal on the West Coast and above normal elsewhere, especially in central areas.
- Export flows to Mexico are today estimated at 7.1bcf/d.
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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