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Henry Hub Resumes Climb

NATGAS
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Henry Hub is now extending gains from yesterday to the highest since Oct. 16, with colder weather expected in western areas and a dip in production set against curtailed LNG export flows and a near-average EIA storage build.

  • US Natgas NOV 24 up 4.8% at 2.46$/mmbtu
  • US Natgas APR 25 up 1.7% at 2.81$/mmbtu
  • The EIA weekly gas inventories for the week ending Oct. 18 showed an injection of 80bcf compared to the expectation for an injection of 62bcf according to a Bloomberg survey and the seasonal normal injection of about 78bcf.
  • The first above normal storage injection since early July has increased the surplus above the five-year average to 167bcf.
  • Lower 48 natural gas demand is up to 74.1bcf/d today, according to Bloomberg. The seasonal average is around 68bcf/d today but typically rises from now as heating demand picks up. The NOAA 6-14 day forecast still shows above normal temperatures in central and eastern areas but below normal in the west.
  • US LNG export terminal feedgas supply is curtailed at 12.0bcf/d today, BNEF shows, with Cameron LNG and Sabine Pass LNG supplies still below normal.
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Henry Hub is now extending gains from yesterday to the highest since Oct. 16, with colder weather expected in western areas and a dip in production set against curtailed LNG export flows and a near-average EIA storage build.

  • US Natgas NOV 24 up 4.8% at 2.46$/mmbtu
  • US Natgas APR 25 up 1.7% at 2.81$/mmbtu
  • The EIA weekly gas inventories for the week ending Oct. 18 showed an injection of 80bcf compared to the expectation for an injection of 62bcf according to a Bloomberg survey and the seasonal normal injection of about 78bcf.
  • The first above normal storage injection since early July has increased the surplus above the five-year average to 167bcf.
  • Lower 48 natural gas demand is up to 74.1bcf/d today, according to Bloomberg. The seasonal average is around 68bcf/d today but typically rises from now as heating demand picks up. The NOAA 6-14 day forecast still shows above normal temperatures in central and eastern areas but below normal in the west.
  • US LNG export terminal feedgas supply is curtailed at 12.0bcf/d today, BNEF shows, with Cameron LNG and Sabine Pass LNG supplies still below normal.