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Henry Hub Heading for Nine-Month High

NATURAL GAS

Front month Henry Hub is continuing to trade higher and is headed for its highest close since January, amid continued support from strong domestic demand and higher LNG feedgas during the day. Cooler weather forecasted into Europe could maintain strong LNG demand, while global energy markets are keeping a risk premium due to Middle East conflict.

  • US Natgas DEC 23 up 8.1% at 3.62$/mmbtu
  • US Natgas MAY 24 up 4.7% at 3.24$/mmbtu
  • US natural gas demand is today estimated up again to 79.2bcf/d with current below normal temperatures in eastern and Gulf Coast regions.
  • Temperatures are expected to warm in the coming week as above normal temperatures move across from the west by the weekend.
  • Domestic natural gas production is stable at around 103.3bcf/d this week after reaching a record 104.4bcf/d on 23 Oct but still well above output of around 100bcf/d this time last year.
  • Natural gas delivery flows to US LNG export facilities are today estimated at 14.0bcf/d according to Bloomberg. This is the highest since Oct. 17 and compares to an average of 13.6bcf/d in October.
  • Export flows to Mexico are today estimated at 6.5bcf/d.
Energy BulletsCommodities
Energy BulletsCommodities

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