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Henry Hub in Retreat

NATGAS

Henry Hub is losing ground today although remains in the $2.1/mmbtu and $2.3/mmbtu seen since Aug. 9.

  • US Natgas SEP 24 down 2.6% at 2.14$/mmbtu
  • US Natgas FEB 25 down 0.8% at 3.33$/mmbtu
  • A likely boost in near term cooling demand from a warmer weather forecast and a dip in production are weighing against high storage levels despite a declining surplus in recent weeks.
  • Although temperatures are rising in the coming days, there are expectations that cooling demand will begin to abate which will weigh on gas-fired power.
  • Domestic natural gas demand has drifted down slightly closer to normal at 73.75bcf/d today, Bloomberg said.
  • Temperatures across the lower 48 are expected to rise back above normal in the coming week with NOAA showing above normal across most of the country in the 6-14 day period.
  • US domestic natural gas production was yesterday slightly lower at 101.1bcf/d, according to Bloomberg.
  • US LNG export terminal feedgas flows are up to 13.14bcf/d today, according to Bloomberg.
  • Export flows to Mexico are today estimated almost unchanged on the day at 7.1bcf/d, according to Bloomberg.
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