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Henry Hub Returns to Positive

NATURAL GAS

Henry Hub front month has crept back into positive trading on yesterday, amid a volatile trading day. Higher LNG output on the day is weighed against updated forecasts for warmer weather in the USA, and high production levels.

  • US Natgas JAN 24 up 0.2% at 2.58$/mmbtu
  • US Natgas JUN 24 down -0.2% at 2.49$/mmbtu
  • Above normal temperatures still dominate the two-week forecast, and the ECMWF forecast has revised up its temperature forecast for the next two weeks in the lower 48s states.
  • Feedgas supplies to US LNG export terminals have rebounded on the day to 14.7 bcf/d, after a drop in feedgas at Calcasieu pass pushed total US feedgas intake to its lowest since late November.
  • US natural gas production was yesterday up slightly at 105.8bcf/d according to Bloomberg and in line with the previous week and well above levels around 100bcf/d this time last year.
  • Export flows to Mexico are today down slightly at 5.51 bcf/d according to Bloomberg.

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