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NATGAS: Henry Hub Falls Back Ahead of Updated US Gas Storage Data

NATGAS
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Henry Hub is pulling back after the Dec24 contract expiry yesterday amid a mixed weather forecast and ahead of the weekly storage data (a day early due to the Thanksgiving holiday).

  • The EIA weekly gas inventories for the week ending Nov. 22 will be released this afternoon at 12:00 ET (17:00GMT). The expectation is for a withdrawal of 1bcf according to a Bloomberg survey following a draw of 3bcf the previous week. The previous five year average shows withdrawals of around 30bcf.
  • Lower 48 natural gas demand remains above the previous five year seasonal average at 88.7bcf/d today, according to Bloomberg. The NOAA 6-14 day forecast is relatively unchanged on the day with below normal temperatures expected in the east but above normal in the west.
  • US LNG export terminal feedgas supply is estimated at 13.13bcf/d today, BNEF shows. Flows are down from a recent peak of 13.8bcf/d on Nov. 21 with Freeport flows about 0.6bcf/d below normal.
  • US domestic natural gas production was estimated up at the highest since early August at 104.7cf/d yesterday according to Bloomberg having gradually risen from a low of 98.7bcf/d on Nov. 9.
  • Export flows to Mexico are estimated at 6.25bcf/d today, according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures volume was 629k on Nov. 26.
    • US Natgas JAN 25 down 4.9% at 3.3$/mmbtu
    • US Natgas FEB 25 down 4.5% at 3.16$/mmbtu
    • US Natgas DEC 25 down 1.6% at 4.13$/mmbtu
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Henry Hub is pulling back after the Dec24 contract expiry yesterday amid a mixed weather forecast and ahead of the weekly storage data (a day early due to the Thanksgiving holiday).

  • The EIA weekly gas inventories for the week ending Nov. 22 will be released this afternoon at 12:00 ET (17:00GMT). The expectation is for a withdrawal of 1bcf according to a Bloomberg survey following a draw of 3bcf the previous week. The previous five year average shows withdrawals of around 30bcf.
  • Lower 48 natural gas demand remains above the previous five year seasonal average at 88.7bcf/d today, according to Bloomberg. The NOAA 6-14 day forecast is relatively unchanged on the day with below normal temperatures expected in the east but above normal in the west.
  • US LNG export terminal feedgas supply is estimated at 13.13bcf/d today, BNEF shows. Flows are down from a recent peak of 13.8bcf/d on Nov. 21 with Freeport flows about 0.6bcf/d below normal.
  • US domestic natural gas production was estimated up at the highest since early August at 104.7cf/d yesterday according to Bloomberg having gradually risen from a low of 98.7bcf/d on Nov. 9.
  • Export flows to Mexico are estimated at 6.25bcf/d today, according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures volume was 629k on Nov. 26.
    • US Natgas JAN 25 down 4.9% at 3.3$/mmbtu
    • US Natgas FEB 25 down 4.5% at 3.16$/mmbtu
    • US Natgas DEC 25 down 1.6% at 4.13$/mmbtu