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Henry Hub Furthers Losses in US Hours

NATURAL GAS

US Henry Hub has furthered its losses during US hours as it continues its slide to its lowest levels since July 2020. Above normal temperatures are stymying US heading demand and putting pressure on prices.

  • US Natgas MAR 24 down -4.6% at 1.61$/mmbtu
  • US Natgas AUG 24 down -4.2% at 2.23$/mmbtu
  • Henry Hub has been on a downward trend since the start of February, almost continuously closing at lower levels.
  • The US weather forecast has turned warmer in the 6-14 day period with above normal now expected in central areas although temperatures are expected to remain near normal on the east and west coasts.
  • Domestic natural gas demand is again just below normal today at 94.1bcf/d according to Bloomberg.
  • US lower 48 gas production was yesterday slightly down on the day to 104.1bcf/d according to Bloomberg with a small dip in Permian and Rockies flows.
Energy BulletsCommodities
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