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NATGAS: Henry Hub Holds Near Highest Since June Ahead of GoM Hurricane

NATGAS
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Henry Hub front month is holding on recent gains after rising to the highest since June 28 with markets watching for the impact of the latest hurricane in the US Gulf.  Global gas market support also comes from China economic stimulus measures announced today and risks of escalating Middle East tensions.

  • A tropical disturbance is expected to develop into a major hurricane before approaching the northeastern US Gulf Coast on Thursday. Oil and gas producers BP, Chevron, Equinor and Shell are evacuating staff from some US Gulf of Mexico facilities, and several have paused production.
  • Domestic natural gas demand is up at 72.7bcf/d today, according to Bloomberg, to remain above the seasonal normal. The NOAA weather forecast still shows mostly above normal temperatures expected across the lower 48 states through the 6-14 day period.
  • US domestic natural gas production was yesterday up slightly to 101.2bcf/d to hold in line with the average seen so far this month, according to Bloomberg.
  • Feedgas flow to US LNG export terminals was down further on the day to 11.70bcf/d today with a small decline to Sabine Pass and Calcasieu Pass to add to the planned maintenance at Cover Point.
  • Export flows to Mexico are today estimated at 7.0bcf/d, according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures volume was 644k on Sept. 23.
    • US Natgas OCT 24 down 0.1% at 2.61$/mmbtu
    • US Natgas MAR 25 down 0.4% at 3.1$/mmbtu
    • US Natgas SEP 25 up 0.2% at 3.27$/mmbtu
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Henry Hub front month is holding on recent gains after rising to the highest since June 28 with markets watching for the impact of the latest hurricane in the US Gulf.  Global gas market support also comes from China economic stimulus measures announced today and risks of escalating Middle East tensions.

  • A tropical disturbance is expected to develop into a major hurricane before approaching the northeastern US Gulf Coast on Thursday. Oil and gas producers BP, Chevron, Equinor and Shell are evacuating staff from some US Gulf of Mexico facilities, and several have paused production.
  • Domestic natural gas demand is up at 72.7bcf/d today, according to Bloomberg, to remain above the seasonal normal. The NOAA weather forecast still shows mostly above normal temperatures expected across the lower 48 states through the 6-14 day period.
  • US domestic natural gas production was yesterday up slightly to 101.2bcf/d to hold in line with the average seen so far this month, according to Bloomberg.
  • Feedgas flow to US LNG export terminals was down further on the day to 11.70bcf/d today with a small decline to Sabine Pass and Calcasieu Pass to add to the planned maintenance at Cover Point.
  • Export flows to Mexico are today estimated at 7.0bcf/d, according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures volume was 644k on Sept. 23.
    • US Natgas OCT 24 down 0.1% at 2.61$/mmbtu
    • US Natgas MAR 25 down 0.4% at 3.1$/mmbtu
    • US Natgas SEP 25 up 0.2% at 3.27$/mmbtu