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NATGAS: Henry Hub Dips into Losses

NATGAS
Energy BulletsBulletPower BulletsCommodities

Henry Hub has dipped into losses today, with the slow recovery in Gulf of Mexico production outweighed by limited demand due to a warm weather forecast.

  • US Natgas OCT 24 down 0.3% at 2.37$/mmbtu
  • US Natgas MAR 25 down 0.2% at 2.91$/mmbtu
  • US domestic natural gas production was at 100.5bcf/d yesterday, according to Bloomberg, to remain below pre hurricane levels. About 298mcf (or 16%) of natural gas output in the U.S. Gulf of Mexico was still offline following Hurricane Francine, the U.S. Bureau of Safety and Environmental Enforcement (BSEE) said on Monday.
  • Gas flows to US LNG export terminals is up to 13.07bcf/d today after falling to a low of 11.47bcf/d on Sept. 13, according to BNEF, compared to an average of 13.2bcf/d before the hurricane disruption.
  • Domestic natural gas demand is today estimated up to 72.0bcf/d, according to Bloomberg, compared to the seasonal normal of around 65.5bcf/d. The latest forecast still shows Lower 48 temperatures holding above normal through the coming two weeks.
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Henry Hub has dipped into losses today, with the slow recovery in Gulf of Mexico production outweighed by limited demand due to a warm weather forecast.

  • US Natgas OCT 24 down 0.3% at 2.37$/mmbtu
  • US Natgas MAR 25 down 0.2% at 2.91$/mmbtu
  • US domestic natural gas production was at 100.5bcf/d yesterday, according to Bloomberg, to remain below pre hurricane levels. About 298mcf (or 16%) of natural gas output in the U.S. Gulf of Mexico was still offline following Hurricane Francine, the U.S. Bureau of Safety and Environmental Enforcement (BSEE) said on Monday.
  • Gas flows to US LNG export terminals is up to 13.07bcf/d today after falling to a low of 11.47bcf/d on Sept. 13, according to BNEF, compared to an average of 13.2bcf/d before the hurricane disruption.
  • Domestic natural gas demand is today estimated up to 72.0bcf/d, according to Bloomberg, compared to the seasonal normal of around 65.5bcf/d. The latest forecast still shows Lower 48 temperatures holding above normal through the coming two weeks.