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US NATGAS: Henry Hub on Track for Highest Since Jan. 27

US NATGAS
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Henry Hub front month is trading higher and remains on track for its highest close since Jan. 27. However, it has lost eased back from its intraday high spike which followed EIA data showing a storage withdrawal.

  • US Natgas MAR 25 up 2.2% at 3.64$/mmbtu
  • US Natgas APR 25 up 1.7% at 3.63$/mmbtu
  • Earlier support came from record LNG feedgas flows and expectations of above-normal demand this week.
  • The EIA weekly gas inventories for the week ending Feb. 7 showed a withdrawal of 100bcf, roughly in line with expectations. The seasonal five-year average was a net withdrawal of around 144bcf.
  • Total stocks are down to 2,297bcf and 248bcf below levels seen a year ago and 67bcf below the previous five-year average of 2,364bcf.
  • US LNG export terminal feedgas has risen to a new record high at 15.39bcf/d today, according to Bloomberg.
  • Lower 48 natural gas demand has risen again to 119.0bcf/d today, according to Bloomberg. The NOAA forecast shows below normal in most of the US in the 6–10-day period but with warmer weather spreading from the west in the 8–14-day period.
  • US domestic natural gas production has drifted lower this week to 104.9bcf/d today, BNEF shows, 
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Henry Hub front month is trading higher and remains on track for its highest close since Jan. 27. However, it has lost eased back from its intraday high spike which followed EIA data showing a storage withdrawal.

  • US Natgas MAR 25 up 2.2% at 3.64$/mmbtu
  • US Natgas APR 25 up 1.7% at 3.63$/mmbtu
  • Earlier support came from record LNG feedgas flows and expectations of above-normal demand this week.
  • The EIA weekly gas inventories for the week ending Feb. 7 showed a withdrawal of 100bcf, roughly in line with expectations. The seasonal five-year average was a net withdrawal of around 144bcf.
  • Total stocks are down to 2,297bcf and 248bcf below levels seen a year ago and 67bcf below the previous five-year average of 2,364bcf.
  • US LNG export terminal feedgas has risen to a new record high at 15.39bcf/d today, according to Bloomberg.
  • Lower 48 natural gas demand has risen again to 119.0bcf/d today, according to Bloomberg. The NOAA forecast shows below normal in most of the US in the 6–10-day period but with warmer weather spreading from the west in the 8–14-day period.
  • US domestic natural gas production has drifted lower this week to 104.9bcf/d today, BNEF shows,