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Henry Hub Holding Small Losses

NATURAL GAS

Henry Hub front continues to remain slightly down on the day, having erased gains from European morning trading. Downside is coming from forecasts of lower heating demand in the upcoming week, coupled with lower LNG feedgas flows.

  • US Natgas MAR 24 down -0.7% at 2.06$/mmbtu
  • US Natgas AUG 24 down -1.2% at 2.54$/mmbtu
  • Heating demand across the US for the week ending Feb. 10 is set be 60 heating degree days (HDD) below the long-term normal, according to Bloomberg.
  • Lower 48 natural gas demand is higher today up at 94.75bcf/d but remains just below the five-year normal for the time of year of around 97.5bcf/d.
  • US domestic gas production has dipped slightly from last week down to 104.0bcf/d today according to Bloomberg compared to an average of 104.6bcf/d in the previous week.
  • Feedgas supply to US LNG export terminals are today down to 13.5bcf/d according to Bloomberg with lower supply to Corpus Christi adding to the estimated month-long train outage at Freeport.
Energy BulletsCommodities
Energy BulletsCommodities

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