Henry Hub Rises

Front month Henry Hub is trading higher on the day amid revised down forecasts for temperatures in the coming days, despite falling LNG feedgas flows and steady production.

• US Natgas JAN 24 up 1.5% at 2.48$/mmbtu
• US Natgas JUN 24 up 0.7% at 2.45$/mmbtu
• While above normal temperatures still dominate the two-week forecast, while the ECMWF forecast has revised down its forecast for the next few days slightly, while the 6-10 day 8-14 days forecasts by the NOAA show growing areas of colder weather in the Southeast USA.
• Natural gas demand is down slightly on the day to 93.4bcf/d to remain just below the seasonal average of 95.8 bcf/d according to Bloomberg.
• Feedgas supplies to US LNG export terminals today have weakened from their near record levels yesterday amid a drop in flows into Calcasieu Pass. Today’s flows are 14.612 bcf/d.
• US natural gas production was yesterday steady at 105.2/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 5.65bcf/d according to Bloomberg.