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Henry Hub Moderates Earlier Gains

NATGAS

Henry Hub continues to trade higher, although has moderated its gains. Higher cooling demand and lower production are offsetting a drop in LNG feedgas flows due to Hurricane Beryl.


  • US Natgas AUG 24 up 0.8% at 2.39$/mmbtu
  • US Natgas JAN 25 down 0% at 3.69$/mmbtu
  • US LNG export terminal feedgas flows are today estimated down at 11.12bcf/d, compared to the seven-day moving average of 12.0 bcf/d.
  • Gas flows to the Freeport LNG export facility in Texas were revised lower to 0.02 bcf/day on Tuesday, according to early nominations data compiled by BloombergNEF - indicating the facility isn’t ready to resume production.
  • US domestic natural gas production has fallen to 100.80 bcf/d as of yesterday, compared to the seven-day average of 102.52 bcf/d. The lowest level since June 19.
  • Domestic natural gas demand is up to the highest since early April at 79.2 bcf/d according to Bloomberg compared to the previous five-year average of around 72bcf/d at this time of year.
  • The two-week weather forecast has shifted warmer over the weekend with above normal temperatures now expected across the whole lower 48 in the 6-14 day period according to NOAA.

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