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Henry Hub Holding Daily Gains

NATGAS

Henry Hub has gained ground to return to levels last seen early April 15, supported by returning LNG feedgas flows and a slightly below expectation US storage injection.

  • US Natgas MAY 24 up 2% at 1.75$/mmbtu
  • US Natgas OCT 24 up 0.6% at 2.52$/mmbtu
  • The EIA weekly gas inventories for the week ending Apr. 12 showed an injection of 50bcf compared to the expectation for an injection of 52bcf according to a Bloomberg survey and the seasonal normal injection of 51bcf.
  • US storage inventories continue to hold a strong surplus with total stocks at 2,333bcf compared to the previous five-year average of 1,711bcf.
  • Feedgas flow to US LNG export terminals are estimated up slightly on the day to 10.82bcf/d according to Bloomberg driven primarily by a recovery in flows to Cameron LNG.
  • US domestic natural gas production was up slightly on the day to 98.8bcf/d yesterday according to Bloomberg compared to a month to date average of 100.3bcf/d.
  • Natural gas demand edged back above normal to 69.5bcf/d today according to Bloomberg estimates.

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