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US NATGAS: Henry Hub Resumes Losses

US NATGAS
USEnergy BulletsNorth AmericaBulletCommodities

Henry Hub has erased earlier gains to be furthering its ongoing downtrend this week. Forecasts for mild weather in the southern US and recovering domestic production are offsetting renewed strong LNG export terminal feedgas flows.

  • US Natgas FEB 25 down 0.5% at 3.45$/mmbtu
  • US Natgas MAR 25 up 1% at 3.15$/mmbtu
  • Lower 48 natural gas demand has fallen to near normal levels at 100.8bcf/d today, according to Bloomberg, following the peak seen last week.
  • The NOAA forecast still shows above normal temperatures in the south but colder in the north throughout the 6–14-day forecast.
  • US domestic natural gas production is estimated up to the highest since Jan. 3, prior to the winter storm disruption last week, at 105.4bcf/d today, according to Bloomberg.
  • US LNG export terminal feedgas is at 14.31bcf/d today, according to Bloomberg, after a dip yesterday due to brief drop in Freeport and Plaquemines supplies.
  • Export flows to Mexico are at 6.3bcf/d today, according to Bloomberg.
  • Surveys for US natgas inventory changes last week: -317 bcf (Reuters), -317 bcf (WSJ), -216 bcf (Bloomberg), 5-year average: -189 bcf.
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Henry Hub has erased earlier gains to be furthering its ongoing downtrend this week. Forecasts for mild weather in the southern US and recovering domestic production are offsetting renewed strong LNG export terminal feedgas flows.

  • US Natgas FEB 25 down 0.5% at 3.45$/mmbtu
  • US Natgas MAR 25 up 1% at 3.15$/mmbtu
  • Lower 48 natural gas demand has fallen to near normal levels at 100.8bcf/d today, according to Bloomberg, following the peak seen last week.
  • The NOAA forecast still shows above normal temperatures in the south but colder in the north throughout the 6–14-day forecast.
  • US domestic natural gas production is estimated up to the highest since Jan. 3, prior to the winter storm disruption last week, at 105.4bcf/d today, according to Bloomberg.
  • US LNG export terminal feedgas is at 14.31bcf/d today, according to Bloomberg, after a dip yesterday due to brief drop in Freeport and Plaquemines supplies.
  • Export flows to Mexico are at 6.3bcf/d today, according to Bloomberg.
  • Surveys for US natgas inventory changes last week: -317 bcf (Reuters), -317 bcf (WSJ), -216 bcf (Bloomberg), 5-year average: -189 bcf.