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NATGAS: Henry Hub Edges Up From Low Driven by Cooler Weather

NATGAS

Henry Hub is recovering slightly but still down on the day after falling to a low of $1.914/mmbtu amid cooling temperatures in parts of the US, while supplies remain stable and gas storage well above normal.

  • Domestic natural gas demand has rebounded back above normal up to 79.8bcf/d today after seeing a gradual decline over the previous week, according to Bloomberg. Lower 48 temperatures after forecast to remain above normal this week before falling back to near normal after the first couple of days of September. The NOAA 6-14 day forecast shows above normal temperatures holding in the west and on the Gulf Coast but with cooler weather towards central and east coast areas. 
  • US domestic natural gas production is today at 102.0bcf/d compared to an average of 102.2bcf/d so far in August, according to Bloomberg.
  • US LNG export terminal feedgas flows are estimated at 12.66bcf/d today, according to Bloomberg in line with an average of 12.8bcf/d so far in August.
  • Export flows to Mexico are today estimated down to 6.6bcf/d, according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures volume was at 332k on Aug 26.
    • US Natgas SEP 24 down 1.2% at 1.93$/mmbtu
    • US Natgas FEB 25 down 0.4% at 3.25$/mmbtu
    • US Natgas AUG 25 up 0.2% at 3.24$/mmbtu
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