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Henry Hub Holding Near Recent Lows

NATGAS

Henry Hub front month is holding steady near the lowest since Jul 2020 amid steady production, curtailed LNG feedgas flows, above normal storage levels and muted demand.

    • US Natgas MAR 24 down -0.5% at 1.76$/mmbtu
    • US Natgas AUG 24 down -0.1% at 2.37$/mmbtu
    • US Natgas FEB 25 down -0.3% at 3.56$/mmbtu
  • US lower 48 gas production was yesterday still strong at 104.7bcf/d according to Bloomberg. US shale gas production is set to dip slightly to 100.425bcf/d in March from an upwardly revised 100.45bcf/d in February according to the EIA Drilling Productivity Report yesterday.
  • Domestic natural gas demand has risen again to 94.8bcf/d today but still just below the seasonal normal for the time of year. The NOAA 6-14 day forecast has turned slightly warmer with US lower 48 expecting near normal for the coming week before edging above normal in the second week of the outlook.
  • Feedgas flows to US LNG export terminals are today at 13.8bcf/d according to Bloomberg with Freeport LNG flows still curtailed and with a small dip in flows for Corpus Christi on the day.
  • Export flow to Mexico is up to 5.83bcf/d today but still below flows of around 6.2bcf/d late last week.
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