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Henry Hub Weighs Cooler Weather With Curtailed LNG Exports

NATGAS

Henry Hub front month pulls back from earlier small gains with support from a slight dip in US output and the forecast for cooler weather towards the middle of February set against curtailed LNG export flows.

    • US Natgas MAR 24 down -0.6% at 2.07$/mmbtu
    • US Natgas AUG 24 down -0.5% at 2.56$/mmbtu
    • US Natgas FEB 25 down -0.3% at 3.63$/mmbtu
  • The two week NOAA forecast has turned slightly cooler than seen last week with below normal temperatures in the west spreading across to more of the country including the Gulf Coast region in the 8-14 day period.
  • Lower 48 natural gas demand is higher today up at 94.75bcf/d but remains just below the five year normal for the time of year of around 97.5bcf/d.
  • US domestic gas production has dipped slightly from last week down to 104.0bcf/d today according to Bloomberg compared to an average of 104.6bcf/d in the previous week.
  • Feedgas supply to US LNG export terminals are today down to 13.5bcf/d according to Bloomberg with lower supply to Corpus Christi adding to the estimated month long train outage at Freeport.
  • Export flow to Mexico is today at 5.8bcf/d after dropping over the weekend.
Energy BulletsPower BulletsCommoditiesUS
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