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Henry Hub Remains Lower

NATURAL GAS

US Henry Hub has recovered from its intraday low of $3.025/MMBtu after slumping during European hours. However, it is continuing to be trading lower during the day amid milder weather forecasts and robust production levels.

  • US Natgas DEC 23 down -1.3% at 3.07$/mmbtu
  • US Natgas MAY 24 down -1.1% at 3.06$/mmbtu
  • The EIA Weekly Natural Gas Storage Report will not be released today due to a planned systems upgrade. The EIA are still collecting the energy data and will release the two weeks on 16 Nov.
  • The latest NOAA two week outlook is still suggesting warm weather for the 6-14 day period for central and eastern areas after cooler weather over the coming weekend. Domestic natural gas demand is edging higher today but still near normal at 76.9bcf/d according to Bloomberg.
  • Domestic natural gas production was yesterday just below the recent record at 105.7bcf/d according to Bloomberg with an average so far in October of 105.1bcf/d.
  • Feedgas delivery flows to US LNG export facilities have recovered slightly in the last couple of days driven by a rebound in Sabine Pass terminal supply. Delivery flows are up to 13.9bcf/d today from a low of 13.5bcf/d on 7 Nov according to Bloomberg.
  • Export flows to Mexico are today at 6.2bcf/d today after a dip lower over last weekend.

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