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Henry Hub Steady as Higher LNG Exports Offset Warmer Forecast

NATGAS

US Natgas is trading near to the previous close levels with a higher LNG exports offset by a slightly warmer weather forecast.

    • US Natgas APR 23 up 0.6% at 2.62$/mmbtu
  • Pipeline deliveries to the US LNG export terminals are today estimated up to 13.37bcf/d according to Bloomberg with Freeport flows back up to 0.98bcf/d after a dip down to 0.4bcf/d yesterday.
  • US production has been steady around 100bcf/d so far this month with output down from around 100.7bcf/d in the second half of February. EIA yesterday updated their US shale output to show increasing production from March to April by 419mmcf/d to 96.62bcf/d.
  • The latest NOAA weather forecast shows milder temperatures in eastern areas of the US in the 8-14 day period but the below normal is lingering in the west. Domestic demand is today above normal at 92.5bcf/d compared to the five year average of around 80bcf/d.
  • Exports to Mexico have dipped from levels seen last week down to 4.6bcf/d according to Bloomberg data.

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