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NATGAS: Henry Hub Extends Pull Back Amid Warmer Forecast

NATGAS
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Henry Hub extends the recent softer tone as demand is expected to ease with the arrival of warmer weather across the US next week while production remains strong.

  • Lower 48 natural gas demand remains high at 106.3bcf/d today after a surge yesterday to the highest since January, according to Bloomberg.  The lower 48 weather forecast has turned milder in recent days with NOAA showing cold on the East Coast giving way to warmer weather as above normal temperatures spread across the US during the second week of December.
  • US domestic natural gas production was at 104.7bcf/d yesterday in line with the average over the previous week, according to Bloomberg but up compared to the November average of 102.4bcf/d.
  • US LNG export terminal feedgas supply is down to 13.37bcf/d today, BNEF shows amid a 0.7bcf/d drop in Sabine Pass Supply.
  • Export flows to Mexico have recovered slightly to 60.5bcf/d today after a dip yesterday, according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures volume was at 522k on Dec. 2.
    • US Natgas JAN 25 down 2.7% at 3.13$/mmbtu
    • US Natgas FEB 25 down 2.6% at 3$/mmbtu
    • US Natgas DEC 25 down 0.5% at 4.1$/mmbtu
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Henry Hub extends the recent softer tone as demand is expected to ease with the arrival of warmer weather across the US next week while production remains strong.

  • Lower 48 natural gas demand remains high at 106.3bcf/d today after a surge yesterday to the highest since January, according to Bloomberg.  The lower 48 weather forecast has turned milder in recent days with NOAA showing cold on the East Coast giving way to warmer weather as above normal temperatures spread across the US during the second week of December.
  • US domestic natural gas production was at 104.7bcf/d yesterday in line with the average over the previous week, according to Bloomberg but up compared to the November average of 102.4bcf/d.
  • US LNG export terminal feedgas supply is down to 13.37bcf/d today, BNEF shows amid a 0.7bcf/d drop in Sabine Pass Supply.
  • Export flows to Mexico have recovered slightly to 60.5bcf/d today after a dip yesterday, according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures volume was at 522k on Dec. 2.
    • US Natgas JAN 25 down 2.7% at 3.13$/mmbtu
    • US Natgas FEB 25 down 2.6% at 3$/mmbtu
    • US Natgas DEC 25 down 0.5% at 4.1$/mmbtu