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NATGAS: Henry Hub Eases Back from Highs as Helene Impact Assessed

NATGAS
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Front month Henry Hub has eased back from the highest since June 28 at $2.674/mmbtu yesterday as the market assess the impact of Tropical Storm Helene against mild weather in the coming two weeks.

  • Tropical Storm Helene is expected to develop into a major hurricane before approaching the northeastern Gulf Coast on Thursday but looks set to miss LNG terminals.
  • Domestic natural gas demand is relatively unchanged on the day at 72.6bcf/d today, according to Bloomberg, to remain above the seasonal normal. The NOAA weather forecast shows above normal temperatures are expected throughout the 6-14 day forecast period.
  • US domestic natural gas production was yesterday at 100.7bcf/d compared to 100.9bcf/d over the previous week, according to Bloomberg.
  • Feedgas flow to US LNG export terminals is estimate at 12.18bcf/d today with a small increase in Freeport flows set against lower Calcasieu Pass supply and the ongoing halt at Cove Point amid planned maintenance.
  • Export flows to Mexico are today estimated at 7.1bcf/d, according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures volume was 446k on Sept. 24.
    • US Natgas OCT 24 up 1.4% at 2.59$/mmbtu
    • US Natgas MAR 25 up 0.9% at 3.1$/mmbtu
    • US Natgas SEP 25 up 0.4% at 3.25$/mmbtu
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Front month Henry Hub has eased back from the highest since June 28 at $2.674/mmbtu yesterday as the market assess the impact of Tropical Storm Helene against mild weather in the coming two weeks.

  • Tropical Storm Helene is expected to develop into a major hurricane before approaching the northeastern Gulf Coast on Thursday but looks set to miss LNG terminals.
  • Domestic natural gas demand is relatively unchanged on the day at 72.6bcf/d today, according to Bloomberg, to remain above the seasonal normal. The NOAA weather forecast shows above normal temperatures are expected throughout the 6-14 day forecast period.
  • US domestic natural gas production was yesterday at 100.7bcf/d compared to 100.9bcf/d over the previous week, according to Bloomberg.
  • Feedgas flow to US LNG export terminals is estimate at 12.18bcf/d today with a small increase in Freeport flows set against lower Calcasieu Pass supply and the ongoing halt at Cove Point amid planned maintenance.
  • Export flows to Mexico are today estimated at 7.1bcf/d, according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures volume was 446k on Sept. 24.
    • US Natgas OCT 24 up 1.4% at 2.59$/mmbtu
    • US Natgas MAR 25 up 0.9% at 3.1$/mmbtu
    • US Natgas SEP 25 up 0.4% at 3.25$/mmbtu