Free Trial

Henry Hub Lowest Since Aug. 9

NATGAS

Henry Hub has pulled back to its lowest level since Aug. 9, as indications of cooling weather, robust production levels, and a continued, albeit shrinking, storage surplus add downside

  • US Natgas SEP 24 down 3.2% at 2.13$/mmbtu
  • US Natgas FEB 25 down 2.7% at 3.3$/mmbtu
  • The EIA weekly gas inventories for the week ending Aug. 9 showed a draw of 6 bcf. US storage inventories however still hold a robust surplus of 375 bcf, although it has shrunk in 12 of the last 13 weeks.
  • US domestic natural gas production rebounded back to 102.15bcf/d yesterday according to Bloomberg.
  • US LNG export terminal feedgas flows are today estimated at 12.63bcf/d, according to Bloomberg.
  • Domestic natural gas demand is up again today to 78.6bcf/d, according to Bloomberg.
  • US cooling demand days remain above the 10-year normal this week at 223, compared to 186. But this is a downward revision from 227 yesterday, LSEG data cited by Reuters said.
  • The NOAA is also showing below normal temperatures 6-10 days ahead on the East Coast and Pacific regions.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.