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Henry Hub Trading Higher

NATURAL GAS

Henry Hub front month has traded between $1.703/MMBtu and $1.767/MMBtu on the day, with a tick up again after European hours. Although softening from intraday highs, front month is still trading higher as cooler weather forecasts offset curtailed LNG feedgas flows.

  • US Natgas APR 24 up 1.9% at 1.74$/mmbtu
  • US Natgas SEP 24 up 0% at 2.52$/mmbtu
  • Lower 48 natural gas demand is almost unchanged on the day at 85.4bcf/d compared to levels down as low as 69.4bcf/d last week.
  • The NOAA 6–10-day forecast shows a split with below normal temperatures in the west but warm weather in the east. The cooler weather is forecast to spread further eastwards during the 8–14-day period.
  • Total feedgas flows to US LNG export terminals are today up slightly to 13.6bcf/d according to Bloomberg but remain below normal.
  • US domestic natural gas production was estimated to be up to 101.1bcf/d according to Bloomberg compared to around 100bcf/d this time last year.

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