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Henry Hub Maintains Gains

NATURAL GAS

US Henry Hub has held its gains following a slightly larger than expected draw in US inventories. Current levels are just slightly below their intraday high of $2.561/MMBtu at 10:38 ET (15:38 GMT).

  • US Natgas FEB 24 up 4.7% at 2.55$/mmbtu
  • US Natgas JUL 24 up 2.1% at 2.68$/mmbtu
  • The EIA weekly gas inventories for the week ending Dec 22 showed a draw of -87bcf compared to the expectation for a draw of -78bcf according to a Bloomberg survey and the seasonal normal draw of -87bcf.
  • The total US inventories remain well above season normal levels at 3,490bcf compared to the average of 3,205bcf.
  • Feedgas supplies to US LNG export terminals are down slightly to 14.26bcf/d today according to Bloomberg with feedgas flows to Corpus Christi about 0.7bcf/d below normal.
  • Lower 48 natural gas demand is up slightly on the day and back just above normal at 89.9bcf/d according to Bloomberg.
  • US natural gas production was yesterday steady at 105.0bcf/d according to Bloomberg compared to an average of 105.6bcf/d over the previous week.

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