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Henry Hub Tracks Yesterday’s Highs

NATURAL GAS

Front month Henry Hub is extending gains throughout the session, tracking yesterday’s gains, as cooler weather is expected to support demand, while today’s bullishness in commodity markets due to growing escalation in the Middle East is adding support.

    • US Natgas FEB 24 up 4.2% at 2.68$/mmbtu
    • US Natgas JUL 24 up 1.2% at 2.75$/mmbtu
  • A terrorist attack near the grave site of Iranian commander Qassem Soleimani in the central Iranian city of Kerman had added to tensions in the Middle East, already heightened due to yesterday's suspected Israeli drone attack which killed senior Hamas leader Saleh al-Arouri in the southern suburbs of Beirut.
  • Lower 48 natural gas demand is relatively unchanged on the day at 98.06bcf/d but well above the five-year average of 93.8bcf/d according to Bloomberg. The latest weather forecast shows below normal temperatures spreading across from the west in the coming week but with above normal holding on the East Coast. Heating demand for the week to Jan 6 is forecast to be 31 HDD below the long term normal at 174 according to NOAA.
Energy BulletsCommodities
Energy BulletsCommodities

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