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NATGAS: Henry Hub Holds Intraday Gains

NATGAS
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US natgas prices are holding most of their gains on the day, hovering near a 23-month high. Support comes from strong flows to LNG terminals, cold weather forecasts, and the resulting increased heating demand.

  • US Natgas JAN 25 up 6.2% at 3.88$/mmbtu
  • US Natgas FEB 25 up 3.5% at 3.46$/mmbtu
  • LSEG estimates 376 heating degree days over the next two weeks, compared with 370 estimated on Monday.
  • The amount of gas flowing to the eight big U.S. LNG export plants rose to 14.13 bcf/d today, compared to 13.97 bcf/d yesterday.
  • LSEG said average gas output in the Lower 48 U.S. states rose to 103 bcfd so far in December from 101.5 bcfd in November.
  • The forecast for average gas demand in the Lower 48, including exports, rose to 132.6 bcfd this week from 124.7 bcfd in the prior week.
  • "The overnight weather data maintains a frosty weather system sweeping across the U.S. Jan 2-6, initially over the Midwest, then gaining territory to cover nearly all the U.S. besides portions of the West," NatGasWeather.com says in a note.
  • Price rallies have occurred without sustained cold, which is a positive, as January and February are the coolest months and key catalysts for draws BNEF said.
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US natgas prices are holding most of their gains on the day, hovering near a 23-month high. Support comes from strong flows to LNG terminals, cold weather forecasts, and the resulting increased heating demand.

  • US Natgas JAN 25 up 6.2% at 3.88$/mmbtu
  • US Natgas FEB 25 up 3.5% at 3.46$/mmbtu
  • LSEG estimates 376 heating degree days over the next two weeks, compared with 370 estimated on Monday.
  • The amount of gas flowing to the eight big U.S. LNG export plants rose to 14.13 bcf/d today, compared to 13.97 bcf/d yesterday.
  • LSEG said average gas output in the Lower 48 U.S. states rose to 103 bcfd so far in December from 101.5 bcfd in November.
  • The forecast for average gas demand in the Lower 48, including exports, rose to 132.6 bcfd this week from 124.7 bcfd in the prior week.
  • "The overnight weather data maintains a frosty weather system sweeping across the U.S. Jan 2-6, initially over the Midwest, then gaining territory to cover nearly all the U.S. besides portions of the West," NatGasWeather.com says in a note.
  • Price rallies have occurred without sustained cold, which is a positive, as January and February are the coolest months and key catalysts for draws BNEF said.