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Henry Hub Steady Ahead of Updated EIA Storage Data

NATGAS

US Henry Hub is holding steady today after the trend lower in the last week ahead of the updated EIA US storage inventories with stocks expected to remain well above normal.

  • US Natgas DEC 23 up 0% at 2.85$/mmbtu
  • US Natgas MAY 24 down -0.6% at 2.77$/mmbtu
  • US Natgas NOV 24 down -0.7% at 3.5$/mmbtu
  • The latest EIA weekly gas inventories for the week ending Nov 17 will be released this afternoon at 12:00 ET (17:00 GMT), a day early due to the Thanksgiving holiday tomorrow. The expectation is for a slight build of +1bcf according to a Bloomberg survey compared to a build of +60bcf last week and the seasonal normal of a -50bcf draw.
  • Domestic natural gas demand is today back up to the five year average levels at 83.6bcf/d for the first time since Nov 11. The weather forecast is relatively unchanged from yesterday with temperatures falling below normal across most of the US this week. The NOAA 6-14 day forecast is showing below normal in central and eastern areas but just above normal on the West Coast.
  • Domestic natural gas production dipped yesterday back to around 104.9bcf/d after the near record highs of 105.8bcf/d at the start of this week.
  • Feedgas flows to US LNG export terminals are today holding steady at 14.6bcf/d according to Bloomberg compared to an average of 14.2bcf/ so far in November.
  • Export flows to Mexico are today at 5.8bcf/d according to Bloomberg.
Energy BulletsCommoditiesUS
Energy BulletsCommoditiesUS

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