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Henry Hub Furthers Fall

NATURAL GAS

Henry Hub has seen prices plummet during US hours as milder weather and ample supply push front month to new seven-month lows.

  • US Natgas MAR 24 down -5.5% at 1.67$/mmbtu
  • US Natgas AUG 24 down -2% at 2.32$/mmbtu
  • US lower 48 gas production was yesterday still strong at 104.7bcf/d according to Bloomberg. U
  • US shale gas production is set to dip slightly to 100.425bcf/d in March from an upwardly revised 100.45bcf/d in February according to the EIA Drilling Productivity Report yesterday.
  • Domestic natural gas demand has risen again to 94.8bcf/d today but still just below the seasonal normal for the time of year. The NOAA 6-14 day forecast has turned slightly warmer with US lower 48 expecting near normal for the coming week before edging above normal in the second week of the outlook.
  • Feedgas flows to US LNG export terminals are today at 13.8bcf/d according to Bloomberg with Freeport LNG flows still curtailed and with a small dip in flows for Corpus Christi on the day.

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