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NATGAS: Henry Hub Loses Ground

NATGAS

Henry Hub is losing ground today, with lower domestic demand, reduced export flows to Mexico, and a slight fall in flows to LNG terminals likely providing downside.

  • US Natgas SEP 24 down 2% at 2.13$/mmbtu
  • US Natgas FEB 25 down 0.6% at 3.33$/mmbtu
  • Domestic natural gas demand has fallen to its lowest since June 17 at 70.28 bcf/d today, according to Bloomberg. 
  • Temperatures forecasts for 6-14 days ahead remain above normal on the East Coast and Mid-West. There are below normal pockets in the Rocky Mountain region.
  • US domestic natural gas production was yesterday largely stable at 101.5bcf/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 at 12.99 bcf/d today, according to Bloomberg with a small decrease from the 13.154 bcf/d yesterday.
  • Export flows to Mexico are today estimated to have fallen on the day at 6.54 bcf/d, compared to 7.1bcf/d yesterday, according to Bloomberg.

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