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NATGAS: Henry Hub Extends Gains on Warmer Weather Forecast

NATGAS

Henry Hub is extending gains from yesterday towards a high of $2.301/mmbtu from Aug 15 driven by an expectation of a boost to gas for power generation due to the warmer weather forecast.

  • Domestic natural gas demand is again relatively unchanged at 75.7bcf/d today, according to Bloomberg, compared to an average of 77.1bcf/d over the previous week. The latest NOAA weather forecast shows a further shift to warmer weather with above normal temperatures expected across the country in the 10-14 day period.
  • US domestic natural gas production was yesterday around 101.9bcf/d compared to an average of 102.0bcf/d over the previous week, according to Bloomberg.
  • US LNG export terminal feedgas flows are stable at 12.71bcf/d, according to Bloomberg to hold in line with the average seen so far this month.
  • Export flows to Mexico are today estimated up on the day to 7.18bcf/d, according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures volume was 520k on Aug 19.
    • US Natgas SEP 24 up 1.1% at 2.26$/mmbtu
    • US Natgas FEB 25 up 0.5% at 3.38$/mmbtu
    • US Natgas AUG 25 up 0.6% at 3.27$/mmbtu
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