December 31, 2024 12:58 GMT
NATGAS: Henry Hub Pulls Back After Surge Higher Yesterday
NATGAS
Henry Hub front month pulls back after surging higher yesterday driven by colder weather and rising LNG export terminal feedgas flows.
- Lower 48 natural gas demand is up slightly to 89.5bcf/d today, according to Bloomberg and is expected to rise further amid falling temperatures in the coming week. Colder temperatures are expected throughout the first half of Jan. with NOAA 6-14 showing below normal in central and eastern areas.
- US LNG export terminal feedgas is up to the highest since Dec 2023 at 14.65bcf/d today supported by the startup of Plaquemines LNG, Bloomberg shows.
- Venture Global is set to export its second LNG cargo from Plaquemines LNG in Louisiana on the Venture Gator LNG tanker. Its inaugural cargo left for Germany on the Venture Bayou LNG tanker on Dec. 26.
- US domestic natural gas production is estimated at 104.7bcf/d today, according to Bloomberg compared to an average of 106.1bcf/d over the previous week.
- Export flows to Mexico is 5.56bcf/d today, according to Bloomberg.
- Nymex Henry Hub daily aggregate traded futures surged to 999k on Dec. 30.
- US Natgas FEB 25 down 3.9% at 3.78$/mmbtu
- US Natgas MAR 25 down 2.2% at 3.2$/mmbtu
- US Natgas JAN 26 down 1.3% at 4.65$/mmbtu
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