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NATGAS: Henry Hub Steady After Rally to Highest Since Early October

NATGAS
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Henry Hub is holding onto gains seen yesterday due to a drop in production and with cooler weather which took front month to the highest since Oct. 4 at $2.956/mmbtu yesterday.

  • US domestic natural gas production is still down at 98.7bcf/d today compared to an average of 101.1bcf/d in the first week of November and 102.5bcf/d during October, according to Bloomberg.
  • Lower 48 natural gas demand is up on the day and roughly in line with previous five year average levels at 77.7bcf/d today, according to Bloomberg. The NOAA forecast shows below normal temperatures in the west in the 6-10 day period and spreading into more central areas in the second week of the outlook although the east remains above normal throughout.
  • US LNG export terminal feedgas supply is estimated to edge lower today to 13.36bcf/d, BNEF shows due to a slight dip in Corpus Christi flows
  • Export flows to Mexico are estimated at 6.35bcf/d, according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures volume was up at 694k on Nov. 11.
    • US Natgas DEC 24 down 0.4% at 2.91$/mmbtu
    • US Natgas JAN 25 up 0.3% at 3.13$/mmbtu
    • US Natgas NOV 25 up 0.3% at 3.52$/mmbtu
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Henry Hub is holding onto gains seen yesterday due to a drop in production and with cooler weather which took front month to the highest since Oct. 4 at $2.956/mmbtu yesterday.

  • US domestic natural gas production is still down at 98.7bcf/d today compared to an average of 101.1bcf/d in the first week of November and 102.5bcf/d during October, according to Bloomberg.
  • Lower 48 natural gas demand is up on the day and roughly in line with previous five year average levels at 77.7bcf/d today, according to Bloomberg. The NOAA forecast shows below normal temperatures in the west in the 6-10 day period and spreading into more central areas in the second week of the outlook although the east remains above normal throughout.
  • US LNG export terminal feedgas supply is estimated to edge lower today to 13.36bcf/d, BNEF shows due to a slight dip in Corpus Christi flows
  • Export flows to Mexico are estimated at 6.35bcf/d, according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures volume was up at 694k on Nov. 11.
    • US Natgas DEC 24 down 0.4% at 2.91$/mmbtu
    • US Natgas JAN 25 up 0.3% at 3.13$/mmbtu
    • US Natgas NOV 25 up 0.3% at 3.52$/mmbtu