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Henry Hub Holds Steady Ahead of Updated EIA Storage Data

NATGAS

Front month US Henry Hub is holding steady ahead of the updated EIA storage data and after falling back from following the surge in global gas prices last week.

    • US Natgas SEP 23 down -0.2% at 2.59$/mmbtu
  • The latest EIA weekly gas inventories for the week ending 11 Aug will be released this afternoon at 15:30BST. The expectation is for a build of +35bcf compared to a build of +29bcf last week and the seasonal normal of +41bcf.
  • Gas flows to LNG export terminals are today back to 12.55bcf/d according to Bloomberg data after a dip down to 12bcf/d earlier in the week driven by a fall in supply to Corpus Christi LNG.
  • Domestic gas consumption has dropped form a high of 78.3bcf/d on 15 Aug to 74.5bcf/d today according to Bloomberg although is still above normal for the time of year with warm weather supporting cooling demand. The latest NOAA forecast shows strongly above normal temperatures in the 6-10 day period cooling slightly at the end of the two week period but still holding above normal temperatures throughout.
  • US domestic natural gas production dipped yesterday and unchanged today down at 100.6bcf/d according to Bloomberg compared to an average of 101.2bcf/d over the previous month.
  • Export flows to Mexico are well above normal at 7.2bcf/d today.

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