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Henry Hub Jumps to Near Intraday High

NATGAS

Henry Hub has been choppy on the day but has jumped during US hours to levels near its intraday high. Concern for US production is still adding to the bullish trend. This is despite ongoing curtailment of US LNG export terminal feedgas flows.

  • US Natgas JUN 24 up 2% at 2.39$/mmbtu
  • US Natgas NOV 24 up 1.4% at 3.07$/mmbtu
  • US terminal feedgas flows are almost unchanged on the day at 12.38bcf/d according to Bloomberg. Supplies are curtailed by below normal supply to Cameron amid ongoing maintenance and Sabine Pass.
  • US domestic natural gas production was yesterday down slightly to 99.5bcf/d according to Bloomberg driven primarily by a drop in supply from the Permian basin.
  • Lower 48 natural gas demand is holding above normal at 65.1bcf/d today according to Bloomberg.
  • The latest 6–14-day NOAA forecast is relatively unchanged with above normal temperatures expected in the south and eastern areas but below normal in the north and west coast.
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