Free Trial

Henry Hub Holds Gains Amid Strong Cooling Demand

NATGAS

Henry Hub holds onto gains seen yesterday with warm weather boosting cooling demand amid a heat wave across Texas and the Southeast. The US gas price has risen from below 2.5$/mmbtu last week up to a high of over 2.75$/mmbtu yesterday.

    • US Natgas SEP 23 down 0% at 2.72$/mmbtu
  • Lower 48 dry natural gas consumption is today estimated at 75.7bcf/d compared to the five year average of around 72bcf/d at this time of year. Cooling demand remains strong with above normal temperatures still forecast across most of the country. The latest weather forecast shows warm weather pushing northwards with only a small central northern area remaining below normal in the 8-14 period.
  • LNG export terminal feedgas flows have dipped down to 11.79bcf/d today according to Bloomberg data driven by a daily drop of 0.5bcf in supplies to Corpus Christi LNG.
  • US production were yesterday up at 102.4bcf/d with average flows just over 102bcf/d so far in August according to Bloomberg compared to around 98.5bcf/d this time last year.
  • Export flows to Mexico are the highest since early July at 7.19bcf/d today.

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.