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Henry Hub Furthering Losses

NATURAL GAS

Henry Hub has extended its losses to hit the lowest level since Feb. 27 amid a slight rise in production, high storage levels coming out of winter, and uncertainty around curtailed US LNG exports.

  • US Natgas APR 24 down 2% at 1.77$/mmbtu
  • US Natgas SEP 24 down 0.6% at 2.51$/mmbtu
  • The expected return of train 3 at the Freeport export terminal from outage in the middle of March could help boost US exports although feedgas supplies to the terminal have seen additional declines at times in the last week.
  • Total feedgas flows to US LNG export terminals are today estimated at about 13.48bcf/d according to Bloomberg.
  • US domestic natural gas production edged slightly higher over the weekend to just over 101bcf/d according to Bloomberg compared to a low of 99.9bcf/d on March 6.
  • Lower 48 natural gas demand is in line with the seasonal five-year average at 80.5bcf/d today.

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