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Henry Hub Lowest Since May 2

NATGAS

Henry Hub front month is on track for its lowest close since May 2, driven by strong production, cooling temperatures, and disruption to US LNG export flows.

  • US Natgas AUG 24 down 7% at 2.03$/mmbtu
  • US Natgas JAN 25 down 2.2% at 3.52$/mmbtu
  • US LNG export terminal feedgas flows are today still low at 10.76bcf/d according to Bloomberg although Freeport supply has edged up to 0.46bcf/day.
  • US domestic natural gas production was down slightly to 101.7bcf/d yesterday compared to the average so far in July of 102.3bcf/d.
  • The NOAA 6–14-day forecast shows below normal temperatures forecast in central areas.
  • Export flows to Mexico are today at 6.7bcf/d according to Bloomberg.
  • El Paso Natural Gas Company has experienced an equipment failure at its Seligman Compressor station, Arizona, with the facility now unavailable.
  • US natural gas inventories likely increased by29 bcf in the week to July 12, according to a WSJ survey.

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