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NATGAS: Henry Hub Holds Steady Amid Drop in Production and LNG Feedgas

NATGAS
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Henry Hub prices are holding onto net gains seen so far this month ahead of the EIA storage data. A drop in domestic production due to Hurricane Francine is offsetting lower LNG export terminal feedgas flows.

  • The EIA weekly gas inventories for the week ending Sept. 6 will be released this afternoon at 10:30 ET (15:30BST). The expectation is for a build of 47bcf according to a Bloomberg survey following a build of 13bcf the previous week. The seasonal normal is a build of around 58bcf.
  • US domestic natural gas production at 100.2bcf/d yesterday, according to Bloomberg, compared to an average of 101.8bcf/d in the first week of September before the arrival of Francine.
  • Gas flows to the seven operational US LNG export plants was relatively unchanged on the day at 11.9bcf/d, according to BNEF, with supply to Cameron LNG still below half normal levels after dropping earlier this week.
  • Domestic natural gas demand edged down slightly to 70.5bcf/d today but still above the previous five year seasonal average. NOAA shows above normal temperatures are expected in central and eastern areas throughout the 6-14 day period but below normal temperatures are forecast for the west.
  • Export flows to Mexico are today estimated up to 7.1bcf/d, according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures volume was 516k on Sep 11.
    • US Natgas OCT 24 up 0% at 2.27$/mmbtu
    • US Natgas MAR 25 unchanged at 2.93$/mmbtu
    • US Natgas SEP 25 down 0% at 3.15$/mmbtu
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Henry Hub prices are holding onto net gains seen so far this month ahead of the EIA storage data. A drop in domestic production due to Hurricane Francine is offsetting lower LNG export terminal feedgas flows.

  • The EIA weekly gas inventories for the week ending Sept. 6 will be released this afternoon at 10:30 ET (15:30BST). The expectation is for a build of 47bcf according to a Bloomberg survey following a build of 13bcf the previous week. The seasonal normal is a build of around 58bcf.
  • US domestic natural gas production at 100.2bcf/d yesterday, according to Bloomberg, compared to an average of 101.8bcf/d in the first week of September before the arrival of Francine.
  • Gas flows to the seven operational US LNG export plants was relatively unchanged on the day at 11.9bcf/d, according to BNEF, with supply to Cameron LNG still below half normal levels after dropping earlier this week.
  • Domestic natural gas demand edged down slightly to 70.5bcf/d today but still above the previous five year seasonal average. NOAA shows above normal temperatures are expected in central and eastern areas throughout the 6-14 day period but below normal temperatures are forecast for the west.
  • Export flows to Mexico are today estimated up to 7.1bcf/d, according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures volume was 516k on Sep 11.
    • US Natgas OCT 24 up 0% at 2.27$/mmbtu
    • US Natgas MAR 25 unchanged at 2.93$/mmbtu
    • US Natgas SEP 25 down 0% at 3.15$/mmbtu