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NATGAS: Henry Hub Partially Reverses Gain Yesterday

NATGAS
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Henry Hub falls back to reverse some of the gains seen at the start of the week as the market weighs the risk of another spell of cold weather in mid February with near record production levels.

  • Lower 48 natural gas demand ticked up on the day back to near normal levels at 98.5bcf/d today, according to Bloomberg. Average Lower 48 temperatures are forecasts above normal this week but with colder weather spreading southwards into the second week of the outlook.
  • US domestic natural gas production is holding near record highs, estimated at 106.4bcf/d today, Bloomberg shows. Some producers plan to limit growth in 2025 until there's a sustained market demand for more supply, Platts said.
  • US LNG export terminal feedgas has fallen to 13.85bcf/d today driven by a drop in supply to Sabine Pass and Corpus Christi to counter an increase to Plaquemines, according to Bloomberg.
  • Export flows to Mexico are steady at 6.07bcf/d today but below supply over 6.6bccf/d last week, according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures was up at 758k on Feb. 3.
    • US Natgas MAR 25 down 4.4% at 3.2$/mmbtu
    • US Natgas AUG 25 down 2.8% at 3.71$/mmbtu
    • US Natgas FEB 26 down 1.4% at 4.33$/mmbtu
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Henry Hub falls back to reverse some of the gains seen at the start of the week as the market weighs the risk of another spell of cold weather in mid February with near record production levels.

  • Lower 48 natural gas demand ticked up on the day back to near normal levels at 98.5bcf/d today, according to Bloomberg. Average Lower 48 temperatures are forecasts above normal this week but with colder weather spreading southwards into the second week of the outlook.
  • US domestic natural gas production is holding near record highs, estimated at 106.4bcf/d today, Bloomberg shows. Some producers plan to limit growth in 2025 until there's a sustained market demand for more supply, Platts said.
  • US LNG export terminal feedgas has fallen to 13.85bcf/d today driven by a drop in supply to Sabine Pass and Corpus Christi to counter an increase to Plaquemines, according to Bloomberg.
  • Export flows to Mexico are steady at 6.07bcf/d today but below supply over 6.6bccf/d last week, according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures was up at 758k on Feb. 3.
    • US Natgas MAR 25 down 4.4% at 3.2$/mmbtu
    • US Natgas AUG 25 down 2.8% at 3.71$/mmbtu
    • US Natgas FEB 26 down 1.4% at 4.33$/mmbtu