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Henry Hub Front Month Falls to Over One-Week Low

NATURAL GAS
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Front month Henry Hub is easing back and has removed all the gains following the news of potential disruptions to Australian LNG supplies from a week ago despite a slight increase in feedgas flows to LNG export terminals.

  • US Natgas SEP 23 down -1.2% at 2.63$/mmbtu
  • Henry Hub front month spiked to $3.018/MMbtu on 9 August following news of potential disruptions to Australian LNG supplies amid industrial action. Prices fell back today to the lowest level since 7 August.
  • Gas flows to US LNG export terminals are today up to 12.60bcf/d according to Bloomberg data, compared with a revised level of 12.10bcf/d yesterday and the 30-day moving average of 12.46bcf/d. The increase is driven by a rise in supply to the Sabine Pass and Corpus Christi terminals.
  • Domestic gas consumption is still holding above normal for the time of year at 75.44bcf/d compared to the five-year average around 70.52bcf/d. The continued hot weather this month will keep power grids under pressure and is likely to continue to support gas demand for cooling. The least weather forecast shows above normal weather spreading from the Southeast throughout most of the US except for the Southwest.
  • US lower 48 dry gas production was at 100.6bcf/d yesterday, slightly below levels seen in the past week.
  • Export flows to Mexico are well above normal at 7.18bcf/d today.
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Front month Henry Hub is easing back and has removed all the gains following the news of potential disruptions to Australian LNG supplies from a week ago despite a slight increase in feedgas flows to LNG export terminals.

  • US Natgas SEP 23 down -1.2% at 2.63$/mmbtu
  • Henry Hub front month spiked to $3.018/MMbtu on 9 August following news of potential disruptions to Australian LNG supplies amid industrial action. Prices fell back today to the lowest level since 7 August.
  • Gas flows to US LNG export terminals are today up to 12.60bcf/d according to Bloomberg data, compared with a revised level of 12.10bcf/d yesterday and the 30-day moving average of 12.46bcf/d. The increase is driven by a rise in supply to the Sabine Pass and Corpus Christi terminals.
  • Domestic gas consumption is still holding above normal for the time of year at 75.44bcf/d compared to the five-year average around 70.52bcf/d. The continued hot weather this month will keep power grids under pressure and is likely to continue to support gas demand for cooling. The least weather forecast shows above normal weather spreading from the Southeast throughout most of the US except for the Southwest.
  • US lower 48 dry gas production was at 100.6bcf/d yesterday, slightly below levels seen in the past week.
  • Export flows to Mexico are well above normal at 7.18bcf/d today.