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NATGAS: Henry Hub Rallies with Cold Temperature Forecast for Eastern US

NATGAS
USEnergy BulletsNorth AmericaBulletCommodities

Henry Hub has rallied again due to cold weather expected for eastern and central regions of the US, but front month remains below the high of $3.563/mmbtu seen last week.

  • Lower 48 natural gas demand is near normal at 82.6bcf/d today, according to Bloomberg. Lower 48 is expected to see a drop in average temperatures into the end of the month but could recover during the second week of the outlook.  The NOAA 6-14 day forecast shows below normal on the east coast but above normal on the west.
  • US LNG export terminal feedgas supply is estimated at 13.57bcf/d today, BNEF shows and marginally above the average from the previous week.
  • US domestic natural gas production is estimated at the highest since August at 103.8bcf/d today, according to Bloomberg, compared to an average of 102.9bcf/d over the previous week.
  • Export flows to Mexico are estimated at 6.0bcf/d today, according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures volume was 782k on Nov. 22.
    • US Natgas DEC 24 up 6.4% at 3.33$/mmbtu
    • US Natgas JAN 25 up 5.8% at 3.48$/mmbtu
    • US Natgas NOV 25 up 1.2% at 3.67$/mmbtu
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Henry Hub has rallied again due to cold weather expected for eastern and central regions of the US, but front month remains below the high of $3.563/mmbtu seen last week.

  • Lower 48 natural gas demand is near normal at 82.6bcf/d today, according to Bloomberg. Lower 48 is expected to see a drop in average temperatures into the end of the month but could recover during the second week of the outlook.  The NOAA 6-14 day forecast shows below normal on the east coast but above normal on the west.
  • US LNG export terminal feedgas supply is estimated at 13.57bcf/d today, BNEF shows and marginally above the average from the previous week.
  • US domestic natural gas production is estimated at the highest since August at 103.8bcf/d today, according to Bloomberg, compared to an average of 102.9bcf/d over the previous week.
  • Export flows to Mexico are estimated at 6.0bcf/d today, according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures volume was 782k on Nov. 22.
    • US Natgas DEC 24 up 6.4% at 3.33$/mmbtu
    • US Natgas JAN 25 up 5.8% at 3.48$/mmbtu
    • US Natgas NOV 25 up 1.2% at 3.67$/mmbtu