FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

NATGAS: Henry Hub Extends Rally Above $2.5/mmbtu

NATGAS
BulletEnergy BulletsCommodities

Henry Hub front month extends the bullish trend this month to rally above $2.5/mmbtu for the first time since July. Prices are supported by a declining storage surplus towards the end of the injection season and with production below July and August levels amid ongoing Gulf of Mexico hurricane risks.

  • A tropical depression near the Gulf of Mexico has a 70% chance of formation in the next 48 hours and additional development is possible as is moves generally northward across the eastern Gulf of Mexico.
  • Domestic natural gas demand is at 71.65bcf/d today, according to Bloomberg, compared to 72.2bcf/d over the previous week. The NOAA weather forecast still shows above normal temperature expected across all lower 48 areas through the 6-14 day period.
  • US domestic natural gas production was yesterday at 100.9bcf/d compared to an average of 101.1bcf/d so far this month, according to Bloomberg.
  • Feedgas flows to US LNG export terminals remain unchanged in recent days down at 12.17bcf/d today with a drop in Cove Point supply to near zero amid planned maintenance of an adjacent pipeline until Oct. 10.
  • Export flows to Mexico are today estimated at 6.6bcf/d, according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures volume was 597k on Sept. 20.
    • US Natgas OCT 24 up 2.6% at 2.5$/mmbtu
    • US Natgas MAR 25 up 1.6% at 3.09$/mmbtu
    • US Natgas SEP 25 up 1.2% at 3.26$/mmbtu
221 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Henry Hub front month extends the bullish trend this month to rally above $2.5/mmbtu for the first time since July. Prices are supported by a declining storage surplus towards the end of the injection season and with production below July and August levels amid ongoing Gulf of Mexico hurricane risks.

  • A tropical depression near the Gulf of Mexico has a 70% chance of formation in the next 48 hours and additional development is possible as is moves generally northward across the eastern Gulf of Mexico.
  • Domestic natural gas demand is at 71.65bcf/d today, according to Bloomberg, compared to 72.2bcf/d over the previous week. The NOAA weather forecast still shows above normal temperature expected across all lower 48 areas through the 6-14 day period.
  • US domestic natural gas production was yesterday at 100.9bcf/d compared to an average of 101.1bcf/d so far this month, according to Bloomberg.
  • Feedgas flows to US LNG export terminals remain unchanged in recent days down at 12.17bcf/d today with a drop in Cove Point supply to near zero amid planned maintenance of an adjacent pipeline until Oct. 10.
  • Export flows to Mexico are today estimated at 6.6bcf/d, according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures volume was 597k on Sept. 20.
    • US Natgas OCT 24 up 2.6% at 2.5$/mmbtu
    • US Natgas MAR 25 up 1.6% at 3.09$/mmbtu
    • US Natgas SEP 25 up 1.2% at 3.26$/mmbtu