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NATGAS: Henry Hub Holds Within $2.1- $2.3/mmbtu Range

NATGAS

Henry Hub has been bouncing between about $2.1/mmbtu and $2.3/mmbtu since Aug 9 with a potential heating demand boost from a warmer weather forecast and a dip in production weighed against high storage levels despite a declining surplus in recent weeks.

  • Domestic natural gas demand has drifted down slightly closer to normal at 73.75bcf/d today, according to Bloomberg. Temperatures across the lower 48 are expected to rise back above normal in the coming week with NOAA showing above normal across most of the country in the 6-14 day period except for near normal holding in the Rocky Mountain region.
  • US domestic natural gas production was yesterday slightly lower at 101.1bcf/d compared to an average of 102.4bcf/d so far in August, according to Bloomberg.
  • US LNG export terminal feedgas flows are up to 13.14bcf/d today, according to Bloomberg with a small daily increase in feedgas to several export terminals.
  • Export flows to Mexico are today estimated almost unchanged on the day at 7.1bcf/d, according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures volume was 416k on Aug 20.
    • US Natgas SEP 24 up 0.5% at 2.21$/mmbtu
    • US Natgas FEB 25 up 0.5% at 3.37$/mmbtu
    • US Natgas AUG 25 up 0.6% at 3.3$/mmbtu
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