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Henry Hub Slips into Losses

NATGAS

Henry Hub front month has erased earlier gains to be trading lower on the day, as curtailed LNG feedgas flows and milder weather are weighing against a drop in production.

  • US Natgas JUN 24 down 1.1% at 2.18$/mmbtu
  • US Natgas NOV 24 down 0.9% at 3.01$/mmbtu
  • US Henry Hub spot prices for 2024 have been revised up by 1.3% to $2.18/MMBtu, according to the EIA in its May Short Term Energy Outlook. US dry natural gas production has been revised down for 2024 by 0.6 bcf/d to 103.0 bcf/d, while production in 2025 is expected to be 104.8 bcf/
  • US domestic natural gas production fell back to at 98.5bcf/d yesterday according to Bloomberg.
  • US LNG export terminal feedgas flows have today fallen to 11.67bcf/d according to Bloomberg with a drop in Corpus Christi flows adding to reduced supply to Freeport and Cameron amid maintenance.
  • Scheduled maintenance on a pipeline supplying Corpus Christi LNG is planned for 12 days from June 10 according to Cheniere.
  • Lower 48 natural gas demand is holding steady just above normal this week at 67.8bcf/d today according to Bloomberg. .
  • The NOAA 6–14-day forecast shows above normal temperatures across the US throughout.
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