Free Trial

Henry Hub Holds Gains Amid Lower EIA Drilling Output Forecast

NATGAS

US Henry Hub is holding steady today after regaining recent lost ground yesterday with support from a lower EIA production forecast for October.

    • US Natgas OCT 23 up 0.5% at 2.74$/mmbtu
    • US Natgas MAR 24 down -0.3% at 3.29$/mmbtu
    • US Natgas SEP 24 down 0% at 3.3$/mmbtu
  • Gas output in the seven US shale basins is forecast to fall by 0.339bcf/d to 98.366bcf/d in October according to the EIA drilling productivity report released yesterday. EIA however revised the September shale gas forecast up from 98.262bcf/d to 98.705bcf/d.
  • US domestic natural gas production has recovered in recent days back up to 101.5bcf/d yesterday after a decline to 100.5bcf/d on 13 Sep according to Bloomberg.
  • Domestic natural gas consumption is unchanged from yesterday and still near normal down at 66.6bcf/d. The latest NOAA 6-10 day forecast has turned slightly warmer today with above normal temperatures now expected across the whole country until the end of the two week outlook.
  • Total natural gas delivery flows to US LNG export terminals are today estimated at 13.1bcf/d according to Bloomberg compared to an average of 13.25bcf/d since the return of Freeport last week.
  • Export flows to Mexico are today estimated at 7.1bcf/d.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.