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Henry Hub Remains Down on Day

NATURAL GAS

US Henry Hub has continued to trade lower on yesterday, amid a build in US inventories and a warmer weather outlook expected to push down domestic demand. Prices have traded during the day between $3.403/MMBtu and $3.509/MMBtu.

  • US Natgas DEC 23 down -0.9% at 3.46$/mmbtu
  • US Natgas MAY 24 up 0.2% at 3.25$/mmbtu
  • The latest EIA weekly gas inventories for the week ending 27 Oct showed a build of +79bcf compared to a Bloomberg survey expecting a +79bcf build and the five-year average for this time of year of +72bcf.
  • The total US inventories remain above normal at 3,779bcf compared to the average of 3,568bcf.
  • EIA will delay all scheduled data releases between November 8-10 including the Weekly Natural Gas Storage Report on November 9 to complete a planned systems upgrade.
  • US natural gas demand is today down slightly to 85.3bcf/d according to Bloomberg compared to the seasonal normal of around 75bcf/d. The latest NOAA forecast is showing above normal temperatures across much of the country in the 6-14 day period.
  • Natural gas delivery flows to US LNG export facilities are near the record highs seen in April with today estimated at 14.7bcf/d according to Bloomberg with supplies to Sabine Pass, Freeport and Corpus Christi near highs from earlier this year.
  • Domestic natural gas production remains strong at 103.0bcf/d yesterday compared to output of around 100bcf/d this time last year.
  • Export flows to Mexico are today estimated down further to 5.25bcf/d compared to an average of 6.46bcf/d in October.
Energy BulletsCommodities
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