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Henry Hub Recovers Ground Amid Mixed Weather and Production Decline

NATGAS

Henry Hub front month has today recovered much of the losses from Friday with a mixed weather forecast and dip in production during February set against high storage levels and curtailed LNG exports.

    • US Natgas MAR 24 up 3.9% at 1.67$/mmbtu
    • US Natgas AUG 24 up 2.9% at 2.49$/mmbtu
    • US Natgas FEB 25 up 1.3% at 3.53$/mmbtu
  • US gas production is today estimated at 102.5bcf/d according to Bloomberg compared to an average of 102.8bcf/d over the previous week but as high as 105bcf/d at the start of February.
  • Feedgas flows to US LNG export terminals are today at 13.93bcf/d according to Bloomberg with flows to the Freeport terminal still curtailed due to the ongoing outage to train 3 since mid Jan.
  • Lower 48 natural gas demand is estimated down at the lowest since late December at 78.2bcf/d according to Bloomberg and near the lower end of the previous five year range. The latest weather forecast shows above normal temperatures moving eastwards across the country this week to be replaced by colder weather in the west. The NOAA 6-14 forecast shows a split with warm weather in the east of the US and cold weather in the west.
  • Export flow to Mexico is today at 5.3bcf/d according to Bloomberg.
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Energy BulletsPower BulletsCommoditiesUS

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