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Henry Hub Rising

NATURAL GAS

US Henry Hub is trading higher on the day, although has relinquished some of its earlier gains. A four-month high boost in LNG export flows, cold weather in the near term, and support from a wider energy market rally due to Middle East tensions support prices.

  • US Natgas NOV 23 up 1% at 3.37$/mmbtu
  • US Natgas APR 24 down -0.4% at 3.24$/mmbtu
  • US Natgas OCT 24 down -0.1% at 3.54$/mmbtu
  • US Natgas 1-2 spread up 0$/mmbtu at -0.26$/mmbtu
  • Feedgas intake at US LNG export facilities has recovered to the highest since late May at 13.54bcf/d according to Bloomberg driven the highest flows to Sabine Pass since late April and a rise in Freeport LNG supply despite Cove Point LNG maintenance.
  • Domestic natural gas demand has risen back above normal to 70.8bcf/d today according to Bloomberg compared to the previous five year average of around 66bcf/d. The latest weather forecast shows below normal temperatures expected in central and eastern areas in the 6-10 day period before warmer weather starts to spread in from the west into the second week of the outlook.
  • US domestic natural gas production rose back over 102bcf/d over the weekend and is steady around 101.8bcf/d today according to Bloomberg to move back above levels seen this time last year.
  • Export flows to Mexico have dipped slightly from last week to 6.9bcf/d today according to Bloomberg.
Energy BulletsCommodities
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