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Henry Hub Plummets

NATURAL GAS

Henry Hub front month has dropped during the day after rebounding to $2.652/MMBtu, although it remains above its daily low of $2.554/MMBtu. Forecasts for warmer weather will cap heating demand and lower feedgas to LNG facilities is hampering liquefaction consumption.

  • US Natgas OCT 23 down -0.9% at 2.61$/mmbtu
  • US Natgas MAR 24 down -3% at 3.16$/mmbtu
  • Flows to Sabine Pass LNG have decline further today down to 3.7bcf/d compared to around 4.5bcf/d last week while Corpus Christi flows are also down by 0.6bcf/d. The drop in flows adds to the month long Cove Point outage due to maintenance. Total natural gas delivery flows to US LNG export terminals are today estimated down at 10.9bcf/d.
  • The lastest GFS weather forecast for the next seven days has temperatures between 3.88 and 4.92 degrees Celsius above the 30 year average.
  • US domestic natural gas production was yesterday up again slightly to 102.0cf/d and above the average from the previous week of 101.4bcf/d.
  • Domestic natural gas consumption has again increased slightly today up to 68.4bcf/d. The US weather forecast has turned warmer across central and eastern areas since yesterday but below normal is still expected in the west throughout the coming two weeks.
  • Export flows to Mexico are today estimated at 6.9bcf/d.
Energy BulletsCommodities
Energy BulletsCommodities

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