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Henry Hub Holding Gains on Cooler Weather

NATGAS

US Natgas is holding onto recent gains supported by below normal temperature across the US in the second week of March and with the gradual return of Freeport LNG. Front month Henry Hub is up from below 2$/mmbtu on 22 Feb

  • US Natgas APR 23 up 0.3% at 2.76$/mmbtu
  • The latest NOAA two week outlook again shows the current cold weather in the west spreading across the country in the 8-14 day period. Domestic demand is today estimated near normal at 83.8bcf/d according to Bloomberg.
  • Total deliveries to US LNG export terminals are today at 12.86bcf/d with flows to Freeport showing at 0.99bcf/d yesterday and 0.81bcf/d today according to Bloomberg estimates.
  • US lower 48 dry gas production was yesterday holding steady at 101bcf/d and well above levels around 95bcf/d seen this time last year.
  • Export flows to Mexico are back up to 5.3bcf/d after dipping down below 5bcf/d over last weekend.

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