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Henry Hub Gains on Strong Domestic and Export Demand Risks

NATGAS

US Henry Hub is holding recent gains with strong LNG export flows and possible higher export demand due to Middle East tensions and supply disruption risks to Europe while cold weather boost demand this week.

    • US Natgas NOV 23 up 1.3% at 3.42$/mmbtu
    • US Natgas APR 24 up 0.9% at 3.27$/mmbtu
    • US Natgas OCT 24 up 0.3% at 3.56$/mmbtu
  • Demand for US LNG supplies may rise with uncertain Egypt export plans after gas production disruption due to the conflict in Israel. Feedgas flows to US LNG export facilities are today estimated at 13.3bcf/d according to Bloomberg with strong supplies to Sabine Pass and despite Cove Point LNG maintenance.
  • Domestic natural gas demand is holding above normal at 69.1bcf/d today according to Bloomberg with a mixed two week weather forecast. Below normal temperatures are expected in central and eastern areas in the 6-10 day period before warmer weather starts to spread in from the west into the second week of the outlook.
  • US domestic natural gas production was up to the highest since early September at 102.3bcf/d yesterday according to Bloomberg with output gradually recovering from slightly lower levels in recent weeks.
  • Export flows to Mexico are today estimated at 7.1bcf/d according to Bloomberg.

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