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NATGAS
US Henry Hub is fairly stable and holding just below the previous close levels with a reduction in feedgas flows to LNG export terminals weighed against a small increased in domestic demand.
- US Natgas OCT 23 down -0.6% at 2.62$/mmbtu
- US Natgas MAR 24 up 0.1% at 3.22$/mmbtu
- US Natgas SEP 24 down -0.1% at 3.26$/mmbtu
- Feedgas flows to Cove Point LNG are still halted due to maintenance and Sabine Pass flows have also fallen today to 4.1bcf/d after briefly recovering up to 4.5bcf/d on 23 Sep. Total natural gas delivery flows to US LNG export terminals are today estimated down at 12.0bcf/d.
- Domestic natural gas consumption has edged back above normal for the time of year up to 67.5bcf/d with a mixed US weather forecast. The two week weather forecast is relatively unchanged from last week with below normal temperatures expected on the West Coast and above normal elsewhere, especially in central areas.
- US domestic natural gas production was yesterday at 101.7bcf/d and just slightly higher than output seen over the previous week of around 101.3bcf/d.
- Export flows to Mexico are today estimated down slightly from last week at 6.6bcf/d.
Source: Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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