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NATGAS: Henry Hub Maintains Surge

NATGAS
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Henry Hub has climbed to its highest level since July 9. Support comes from another below average and below expectation build in US natural gas stockpiles, further eroding the storage surplus.

  • US Natgas OCT 24 up 4.8% at 2.38$/mmbtu
  • US Natgas MAR 25 up 0.7% at 2.95$/mmbtu
  • The EIA weekly gas inventories for the week ending Sep. 6 showed an injection of 40bcf compared to the expectation for an injection of 47bcf according to a Bloomberg survey and the seasonal normal injection of about 67 bcf.
  • Total US storage inventories are now 3,387bcf, holding a surplus of 296bcf, down from 323bcf last week.
  • 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.
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Henry Hub has climbed to its highest level since July 9. Support comes from another below average and below expectation build in US natural gas stockpiles, further eroding the storage surplus.

  • US Natgas OCT 24 up 4.8% at 2.38$/mmbtu
  • US Natgas MAR 25 up 0.7% at 2.95$/mmbtu
  • The EIA weekly gas inventories for the week ending Sep. 6 showed an injection of 40bcf compared to the expectation for an injection of 47bcf according to a Bloomberg survey and the seasonal normal injection of about 67 bcf.
  • Total US storage inventories are now 3,387bcf, holding a surplus of 296bcf, down from 323bcf last week.
  • 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.