November 29, 2024 17:35 GMT
NATGAS: Henry Hub Continues Rally
NATGAS
Henry Hub is continuing today’s rally and is ticking up around 0.6% on the week, amid thin holiday trading volumes and cooler weather and high LNG feedgas flows.
- US Natgas JAN 25 up 4.9% at 3.36$/mmbtu
- US Natgas JUN 25 up 2.4% at 3.16$/mmbtu
- Lower 48 natural gas demand has risen to the highest since February at 96.3bcf/d today, according to Bloomberg driven by current below normal Lower 48 temperatures.
- The previous five-year average is around 87.5bcf.d. Cold weather into early next week could ease with the NOAA 6-14 day forecast showing above normal in the west spreading into central areas but with below normal temperatures still on the East Coast.
- US LNG export terminal feedgas supply is estimated at the highest since January at 14.1bcf/d today, BNEF shows, with a further rise in Freeport and Sabine Pass supplies.
- US domestic natural gas production remains strong at 104.5cf/d today, according to Bloomberg, to hold near the highest since early August.
- Export flows to Mexico are estimated at 6.24bcf/d today, according to Bloomberg.
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