FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

NATGAS: Henry Hub Set for Net Weekly Decline Amid Mixed Weather Forecast

NATGAS
BulletEnergy BulletsCommodities

Henry Hub front month is trading near the previous close but set for a net decline on the week amid mixed weather forecasts as restoration efforts are underway following Hurricane Milton. Global energy market focus remains on the supply uncertainty from the Middle East.

  • The EIA weekly gas inventories for the week ending Oct. 4 showed an above expectation but below average injection rate of 82bcf compared to the seasonal normal injection of about 96bcf. US working gas storage inventories now hold a surplus of 176bcf above the five-year average.
  • Lower 48 natural gas demand is estimated back down towards normal levels at 66.7bcf/d today, according to Bloomberg compared to a seasonal average of around 64bcf/d. The NOAA 6-10 day forecast has turned slightly warmer for the east and now showing temperatures closer to normal, while the west coast forecast has cooled to near normal but central areas remain warm.
  • US LNG export terminal feedgas supply is back up to 12.46bcf/d today, BNEF shows, after a brief drop of about 0.7bcf/d in Sabine Pass feedgas yesterday. Cove Point is showing a small increase in supply with the end of maintenance expected shortly.
  • US domestic natural gas production was up at the highest since early September at 102.1bcf/d today, according to Bloomberg, compared to an average of 101.3bcf/d so far this month.
  • Export flows to Mexico are unchanged on the day at 6.8bcf/d, according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures volume was 593k on Oct. 10.
    • US Natgas NOV 24 unchanged at 2.68$/mmbtu
    • US Natgas DEC 24 up 0.1% at 3.1$/mmbtu
    • US Natgas OCT 25 down 0.4% at 3.33$/mmbtu
262 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Henry Hub front month is trading near the previous close but set for a net decline on the week amid mixed weather forecasts as restoration efforts are underway following Hurricane Milton. Global energy market focus remains on the supply uncertainty from the Middle East.

  • The EIA weekly gas inventories for the week ending Oct. 4 showed an above expectation but below average injection rate of 82bcf compared to the seasonal normal injection of about 96bcf. US working gas storage inventories now hold a surplus of 176bcf above the five-year average.
  • Lower 48 natural gas demand is estimated back down towards normal levels at 66.7bcf/d today, according to Bloomberg compared to a seasonal average of around 64bcf/d. The NOAA 6-10 day forecast has turned slightly warmer for the east and now showing temperatures closer to normal, while the west coast forecast has cooled to near normal but central areas remain warm.
  • US LNG export terminal feedgas supply is back up to 12.46bcf/d today, BNEF shows, after a brief drop of about 0.7bcf/d in Sabine Pass feedgas yesterday. Cove Point is showing a small increase in supply with the end of maintenance expected shortly.
  • US domestic natural gas production was up at the highest since early September at 102.1bcf/d today, according to Bloomberg, compared to an average of 101.3bcf/d so far this month.
  • Export flows to Mexico are unchanged on the day at 6.8bcf/d, according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures volume was 593k on Oct. 10.
    • US Natgas NOV 24 unchanged at 2.68$/mmbtu
    • US Natgas DEC 24 up 0.1% at 3.1$/mmbtu
    • US Natgas OCT 25 down 0.4% at 3.33$/mmbtu