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Henry Hub Near Previous Close After Below Normal Storage Build

NATGAS

US front month Henry Hub is trading near the previous close after an earlier dip lower as the energy markets assesses future US economic growth amid ample current supplies and after a slightly smaller than normal EIA inventory build.

    • US Natgas JUN 23 up 0.3% at 2.2$/mmbtu
  • EIA US inventory data yesterday showed a build of +78bcf in line with expectations but just below the five year average. Total US inventories are still near the top of the five year range at 2,141bcf compared to the average of 1,780bcf.
  • Delivery flows to the US LNG export terminals are today estimated down at 12.72bcf/d according to Bloomberg compared to an average of 13.06bcf/d so far this month and 14.02bcf/d in April.
  • Natural gas production has remained stable this week with today estimated at 100.4bcf/d according to Bloomberg.
  • Domestic demand is holding near normal with today estimated at 62.6bcf/d. The latest NOAA forecast is showing temperatures in central areas closer to normal compared to yesterday’s forecast. Western areas are still showing above normal throughout the 6-14 day period.
  • Export flows to Mexico are unchanged and still estimated up at the top of the five year range at 6.3bcf/d.
Energy BulletsCommoditiesUS
Energy BulletsCommoditiesUS

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