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Henry Hub Sinks

NATURAL GAS

Henry Hub Front month has declined sharply during US hours to closing levels not seen since September amid updated forecasts for normal to above normal weather across the mainland USA likely puts pressure on gas demand.

  • US Natgas JAN 24 down -5% at 2.57$/mmbtu
  • US Natgas JUN 24 down -4.8% at 2.61$/mmbtu
  • The US EIA natural gas storage surplus is expected to narrow to about 7% above the five year average in data due tomorrow with an estimated withdrawal of 105bcf according to a survey from S&P Global, while a WSJ survey expects a draw of 110 bcf.
  • Feedgas flows to US LNG export terminals are at 14.6bcf/d according to Bloomberg, down around 0.26 bcf/d compared to Dec. 5.
  • Natural gas demand is slightly higher again at 93.0bcf/d today according to Bloomberg but near normal and following the seasonal trend higher.
  • The NOAA temperature forecast expects near normal or above normal temperatures across the mainland US, except for Texas and parts of states bordering the USGC.
  • Domestic natural gas production has dipped to around 104.4bcf/d according to Bloomberg compared to just over 106bcf/d in the first few days of December but still high compared to historical levels.
  • Export flows to Mexico are at 6.42bcf/d according to Bloomberg.
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