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Henry Hub Loses Further Ground

NATGAS

Henry Hub has lost further ground during US hours with strong production set against recovering LNG export flows and above normal demand amid hot weather. Front month is at its lowest level since early May.

  • US Natgas AUG 24 down 2.2% at 1.96$/mmbtu
  • US Natgas JAN 25 up 0.3% at 3.49$/mmbtu
  • US LNG export terminal feedgas flows are today estimated up to 13.39bcf/d according to Bloomberg with Freeport LNG supply recovering up to 2.24bcf/d today. Total US feedgas is near the highest since March of 13.58ncf/d on June 1.
  • US domestic natural gas production was strong up at 103.3bcf/d over the weekend as output has gradually increased from a low in late April. The US gas rig count fell back slightly last week to 101 after seeing a rebound during July after the declining trend in H1.
  • Domestic lower 48 natural gas demand remains above normal at 79.3bcf/d today according to Bloomberg. T
  • US cooling demand for the week ending Aug. 3 is forecast to be 27 cooling degree days (CDD) above the long-term normal, according to Bloomberg, citing the NOAA.

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