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NATGAS: Henry Hub Edges Higher Amid Warmer Weather Forecast

NATGAS

Henry Hub has rebounded slightly from a low of $2.097/mmbtu on a warmer weather forecast but within a $0.2/mmbtu range seen over the previous week amid stable fundamentals and healthy storage levels.

  • Domestic natural gas demand is holding steady around 77.2bcf/d, according to Bloomberg, compared to the seasonal average around 72bcf/d. The latest NOAA weather forecast has turned slightly warmer than seen last week with the above normal temperatures in central areas spreading across the country in the 10-14 day period.
  • US domestic natural gas production has dipped slightly with yesterday back to 101.8bcf/d compared to 102.5bcf/d on Aug 16, according to Bloomberg.
  • US LNG export terminal feedgas flows are today estimated at 12.79bcf/d, according to Bloomberg to hold in line with the average seen so far this month.
  • Export flows to Mexico are today estimated at 6.8bcf/d, according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures volume was 459k on Aug 16.
    • US Natgas SEP 24 up 2.1% at 2.17$/mmbtu
    • US Natgas FEB 25 up 0.3% at 3.31$/mmbtu
    • US Natgas AUG 25 down 0.1% at 3.21$/mmbtu

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