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Henry Hub Pulls Back After Last Week’s Rally

NATURAL GAS

US Henry Hub front month dipped on Tuesday correcting some of last week’s gains, while reduced LNG exports amid terminal maintenance limits upside.

  • US Natgas JUL 23 down -1.5% at 2.75$/mmbtu
  • Delivery flows to the US export terminals are at 11.56bcf/d, slightly below the 30-day moving average of 11.58bcf/d amid lower flows to the Corpus Christi and Cameron terminal.
  • The US NOAA 9-14 day weather forecast is showing above normal temperatures for much of the US spurring demand for cooling.
  • Lower 48 dry gas production is gradually recovering from the low levels seen in mid-June up to 99.9bcf/d.
  • Export flows to Mexico have edged up to 7.3bcf/d today, up from 6.9bcf/d on Monday.

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