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NATGAS: Henry Hub Could Find a 20% Winter Bounce: Bloomberg Intelligence

NATGAS
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Henry Hub could approach the $3.50/MMBtu mark this winter, compared to a strip of $2.85/MMBtu – a rise of over 20%, Bloomberg Intelligence said.

  • Storage draws are posed to top 2 Tcf, driving down inventories, according to BI models.
  • Softer gas-output growth, stronger LNG feedgas glows and colder weather boosting consumption are all driving the more bullish outlook for US natural gas.
  • Cooler-than-expected temperatures are set to help rally gas consumption during the most important period for balances.
  • Heating degree days (HDD) may rise around 7% compared to last year but remain inline with the seasonal norm.
  • Prices below $2/MMBtu – near break-even in Appalachia and Haynesville (roughly half of US volumes) – appear unsustainable.
  • Production is tracking around 101 bcf below last winter’s level, also helping to support the market, BI said.

 

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Henry Hub could approach the $3.50/MMBtu mark this winter, compared to a strip of $2.85/MMBtu – a rise of over 20%, Bloomberg Intelligence said.

  • Storage draws are posed to top 2 Tcf, driving down inventories, according to BI models.
  • Softer gas-output growth, stronger LNG feedgas glows and colder weather boosting consumption are all driving the more bullish outlook for US natural gas.
  • Cooler-than-expected temperatures are set to help rally gas consumption during the most important period for balances.
  • Heating degree days (HDD) may rise around 7% compared to last year but remain inline with the seasonal norm.
  • Prices below $2/MMBtu – near break-even in Appalachia and Haynesville (roughly half of US volumes) – appear unsustainable.
  • Production is tracking around 101 bcf below last winter’s level, also helping to support the market, BI said.

 

Keep reading...Show less