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Henry Hub Ticks Up on Day

NATGAS

Henry Hub continues trading higher today as the market assess the slow return of Freeport LNG following the halt due to hurricane Beryl.

  • US Natgas AUG 24 up 0.8% at 2.18$/mmbtu
  • US LNG export terminal feedgas flows are today down to 10.68bcf/d according to Bloomberg.
  • Freeport expects to restart its first LNG train this week followed by trains 2 & 3 shortly after although at reduced rates for a period of time as repairs continue.
  • US domestic natural gas production was at 102.6bcf/d yesterday compared to the average so far in July of 102.3bcf/d.
  • Domestic natural gas demand is relatively unchanged on the day at 81.6bcf/d today compared to the previous five-year average of around 73bcf/d at this time of year.
  • Forecasts have moved slightly cooler for central US with below normal temperatures forecast in central areas, near normal on the east coast and above normal in the west.
  • US demand for power hit a preliminary hourly record high on Monday as air conditioning usage was increased due to severe hot weather, Reuters said
  • U.S. natural gas storage is on track to end the April-October summer injection season at an eight-year high, according to a Reuters survey of analyst.

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