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Henry Hub Rallies to Highest Since Jan

NATURAL GAS

US Henry Hub front month has rallied to the highest since 24 January on cooler weather, a smaller than expected build in US storage inventories and higher LNG export supplies. Rising natural gas prices in Asia and Europe on the back of a potential restart to industrial action in Australia is also likely supportive. The front month is on track for a week-on-week net increase of around $0.29/mmbtu.

  • US Natgas NOV 23 up 2.4% at 3.24$/mmbtu
  • The latest weather forecast has turned cooler since yesterday with above normal still holding on in the west but with temperatures below normal expected in eastern areas in the 8-14 day period according to NOAA.
  • Natural gas deliveries to US LNG export terminals have increased today up to 13.2bcf/d according to Bloomberg.

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