Henry Hub Regains Some Losses

Henry Hub continues to be trending lower, although has regained some of its earlier losses and rebounded from its intraday low of $3.053/MMBtu, as milder weather, and higher production counter a boost in LNG exports.

• US Natgas NOV 23 down -2.9% at 3.14$/mmbtu
• US Natgas APR 24 down -1.9% at 3.19$/mmbtu
• US Natgas OCT 24 down -1.3% at 3.54$/mmbtu
• US Natgas 1-2 spread down 0$/mmbtu at -0.37$/mmbtu
• The two-week forecast is generally showing slightly above normal temperatures with temperatures shifting for 21-25 October. Below normal temperatures in eastern areas in the coming days are forecast to warm back towards normal from mid next week as warm weather in the west spreads across the country.
• US domestic natural gas production is today estimated up at 102.9bcf/d according to Bloomberg having reached a new high of 103.6bcf/d yesterday.
• Natural gas deliveries to US LNG export facilities are today estimated up to the highest since April at 14.4bcf/d according to Bloomberg amid strong supplies to Sabine Pass relative to the flows seen in recent months.
• Export flows to Mexico are slightly down from last week at 6.1bcf/d.