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NATGAS: Henry Hub Holding Above Weekly Low Amid Global Gas Market Rebound

NATGAS

Henry Hub has finding support today amid a recovery in the global gas markets with front month rising from a low of $1.882/mmbtu yesterday.

  • US domestic natural gas production remains strong and relatively unchanged on the day at 103.5bcf/d with an average so far in August of 103.2bcf/d, according to Bloomberg.
  • US LNG export terminal feedgas flows are today down to 12.5bcf/d according to Bloomberg driven by a drop of 0.4bcf/d to Corpus Christi.
  • Domestic lower 48 natural gas demand remains well above normal at 81.4bcf/d today, according to Bloomberg compared to the previous five year average of around 72bcf/d. Temperatures across the lower 48 US are generally expected above normal in the coming two weeks except for below normal in northern and eastern areas in the 6-10 day period.
  • Export flows to Mexico are today back up to 6.4bcf/d according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures volume was 388k on Aug 5.
    • US Natgas SEP 24 down 0.3% at 1.94$/mmbtu
    • US Natgas FEB 25 down 0.3% at 3.21$/mmbtu
    • US Natgas AUG 25 down 0.1% at 3.15$/mmbtu

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