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Henry Hub Steady Amid Near Record LNG Feedgas Flows

NATGAS

Front month Henry Hub is holding steady with support from near record LNG feedgas flows as global gas markets assess the risk to LNG flows from the vessel diversions away from the Red Sea. Upside moves are muted with warm weather expected to limit domestic heating demand over the upcoming holiday period.

    • US Natgas JAN 24 up 0% at 2.49$/mmbtu
    • US Natgas JUN 24 down -1.2% at 2.42$/mmbtu
    • US Natgas DEC 24 down -1.1% at 3.41$/mmbtu
  • Feedgas supplies to US LNG export terminals are holding near record level and just above 15.0bcf/d again today according to Bloomberg.
  • Natural gas demand is down slightly on the day to 93.3bcf/d to remain just below the seasonal average according to Bloomberg. Above normal temperatures still dominate the two week forecast although cooler weather closer to normal could be seen in southern areas and towards the start of January.
  • US natural gas production was yesterday steady at 104.8bcf/d according to Bloomberg and in line with the previous week and well above levels around 100bcf/d this time last year.
  • Export flows to Mexico are today back up slightly to 5.78bcf/d according to Bloomberg.

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