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Henry Hub Removes Last Week’s Gains

NATURAL GAS

The front month Henry Hub has fallen to the lowest level since 5 October today to reach an intraday low of $3.053/mmbtu weighed on by forecasts for milder weather and strong production.

  • US Natgas NOV 23 down -4.9% at 3.08$/mmbtu
  • US Natgas APR 24 down -2.8% at 3.16$/mmbtu
  • US Natgas OCT 24 down -1.9% at 3.51$/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.

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