February 06, 2025 18:17 GMT
US NATGAS: Henry Hub Regains Ground
US NATGAS
Henry Hub front month is has returned to its earlier gains during US hours, gaining towards the high with falling temperatures in the coming week and an average stock draw last week offsetting strong production.
- US Natgas MAR 25 up 0.8% at 3.39$/mmbtu
- US Natgas APR 25 up 0.7% at 3.38$/mmbtu
- The EIA weekly gas inventories for the week ending Jan. 31 showed a withdrawal of 174bcf, on par with the seasonal five-year average.
- Total stocks are down to 2,397 bcf and 208bcf below levels seen a year ago and 111bcf below the previous five-year average of 2,508bcf.
- Lower 48 natural gas demand is today near normal at 96.9bcf/d, according to Bloomberg.
- Average Lower 48 temperatures are forecast to fall below normal into next week, but the latest forecast is showing warmer in the southern regions into the second half of February.
- US domestic natural gas production rose to a new record high of 107.95bcf/d yesterday, Bloomberg shows.
- US LNG export terminal feedgas rebounded to 14.96bcf/d today, Bloomberg said.
161 words