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Henry Hub Maintains Pull Back

NATURAL GAS

US Henry Hub’s pull back during the day is being maintained following Friday’s surge to after surging a peak of 3.64$/mmbtu on Friday. Front month now back to levels observed earlier last week amid warmer weather forecasts for the next few days.

  • US Natgas DEC 23 down -4.2% at 3.34$/mmbtu
  • US Natgas MAY 24 down -1.9% at 3.09$/mmbtu
  • US Natgas NOV 24 down -0.9% at 3.77$/mmbtu
  • US Natgas 1-2 spread down 0$/mmbtu at -0.24$/mmbtu
  • US natural gas demand is today estimated back above normal at 78.7bcf/d after dropping down to as low as 66bcf/d on 26 Oct.
  • The cold weather expected in eastern regions in the coming days will return to normal or even slightly above by the end of the week. The latest NOAA two-week forecast suggests above normal temperatures for much of the country in the 6-14 day period.
  • Domestic natural gas production was yesterday holding steady at 103.2bcf/d just above the average of 102.7bcf/d seen so far in October and compared to around 100bcf/d this time last year.
  • Feedgas deliveries to US LNG export facilities are up to 14.4bcf/d today according to Bloomberg from around 13.7bcf/d last week due to an increase in supply to Sabine Pass LNG.
  • Export flows to Mexico are today estimated at 6.4bcf/d.

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