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Henry Hub Hits Lowest Since April 17

NATGAS

Henry Hub front month has fallen to its lowest intraday level since April 17, as milder weather and high storage inventories add additional pressure.

  • US Natgas MAY 24 down 6% at 1.7$/mmbtu
  • US Natgas OCT 24 down 2.3% at 2.56$/mmbtu
  • Forecasts have shifted towards milder weather for the period until May 3, according to Commodity Weather Group, cited by Bloomberg.
  • Results of a Bloomberg survey showed that US gas inventories probably rose by 86 bcf last week, above the five-year average rise of 59 bcf for that period.
  • Feedgas flow to US LNG export terminals are estimated at 12.4bcf/d today according to Bloomberg with Freeport feedgas of 0.43bcf/d.
  • US domestic natural gas production fell to 97.7bcf/d according to Bloomberg compared an average of 98.5bcf/d in the previous week.
  • Natural gas demand is slightly higher on the day but still near at 68.5bcf/d today according to Bloomberg.
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