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Henry Hub Rebounding

NATGAS

Henry hub is rebounding today after yesterday’s steep losses. Rising demand and a slight drop in production are adding to geopolitical risks to global gas supplies.

  • US Natgas SEP 24 up 3.4% at 2.11$/mmbtu
  • US Natgas FEB 25 up 1% at 3.36$/mmbtu
  • Geopolitical tensions have risen with Israel reportedly killing the political leader of Hamas in Tehran. Iran’s Ayatollah Khamanei has called for a direct attack on Israel, according to the NY Times, while Israeli PM Netanyahu has cautioned that there are “challenging days ahead”.
  • US domestic natural gas production remains strong today but is down to 102.75 bcf/d, the lowest since July 22, according to Bloomberg.
  • US LNG export terminal feedgas flows are today at 12.19 bcf/d according to Bloomberg.
  • Domestic lower 48 natural gas demand has risen again to 83.98bcf/d today, boosted by rising cooling demand. This is the highest level since July 9.
  • The latest NOAA forecast still shows above normal temperatures across most of the country, although there is some areas of below average temperatures in the north.
  • Export flows to Mexico were yesterday at 6.68bcf/d according to Bloomberg, a weekly high.
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