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NATGAS: Henry Hub Weighs Warm Late February with Strong LNG Feedgas

NATGAS
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Henry Hub is holding near trading levels seen yesterday but down from the close on Friday with above normal temperatures in late February set against strong feedgas supply to US LNG export terminals.

  • Lower 48 natural gas demand has risen to the highest since Jan. 24 at 122.7bcf/d, according to Bloomberg. Average temperatures in Lower 48 are expected below normal this week before rising above normal into next week. The NOAA 8-14 forecast shows above normal across most of the US.
  • US LNG export terminal feedgas remains just below record levels at 15.43bcf/d today, compared to an average of 14.9bcf/d so far in February.
  • US domestic natural gas production is estimated at 106.1bcf/d today, BNEF shows, compared to an average of 107.1bcf/d so far in February.
  • Export flows to Mexico are today estimated up on the day at 6.60bcf/d, according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures volumes was 110k on Feb. 17 due to the US holiday.
    • US Natgas MAR 25 down 3% at 3.62$/mmbtu
    • US Natgas AUG 25 down 2.5% at 4$/mmbtu
    • US Natgas FEB 26 down 1.8% at 4.5$/mmbtu
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Henry Hub is holding near trading levels seen yesterday but down from the close on Friday with above normal temperatures in late February set against strong feedgas supply to US LNG export terminals.

  • Lower 48 natural gas demand has risen to the highest since Jan. 24 at 122.7bcf/d, according to Bloomberg. Average temperatures in Lower 48 are expected below normal this week before rising above normal into next week. The NOAA 8-14 forecast shows above normal across most of the US.
  • US LNG export terminal feedgas remains just below record levels at 15.43bcf/d today, compared to an average of 14.9bcf/d so far in February.
  • US domestic natural gas production is estimated at 106.1bcf/d today, BNEF shows, compared to an average of 107.1bcf/d so far in February.
  • Export flows to Mexico are today estimated up on the day at 6.60bcf/d, according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures volumes was 110k on Feb. 17 due to the US holiday.
    • US Natgas MAR 25 down 3% at 3.62$/mmbtu
    • US Natgas AUG 25 down 2.5% at 4$/mmbtu
    • US Natgas FEB 26 down 1.8% at 4.5$/mmbtu