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NATGAS: Henry Hub Ticks up to Highest Since Mid June

NATGAS
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Henry Hub has ticked up to the highest since June 13 after a further reduction in the US gas storage surplus according to EIA data yesterday.

  • The EIA weekly gas inventories for the week ending Sept. 27 showed an injection of 55bcf roughly in line with expectation but once again below the seasonal normal injection of about 94bcf. The working gas storage inventory surplus above the five year average is down to 190bcf.
  • US LNG export terminal feedgas supply is estimated at 12.23bcf/d, BNEF shows, will flows still curtailed by Cove Point maintenance.
  • Lower 48 natural gas demand is down slightly closer to normal today at 69.5bcf/d, according to Bloomberg. The latest weather forecast shows temperatures gradually following the seasonal trend lower but still holding above normal for much of the US. The NOAA forecast is relatively unchanged with eastern areas at or below normal for the 6-14 day period.
  • US domestic natural gas production is estimated at 101.7bcf/d on Oct. 3, according to Bloomberg, compared to an average of 101.5bcf/d over the previous week.
  • Export flows to Mexico are today estimated at 6.4bcf/d, according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures volume was 372k on Oct. 3.
    • US Natgas NOV 24 up 1.2% at 3.01$/mmbtu
    • US Natgas DEC 24 up 0.9% at 3.4$/mmbtu
    • US Natgas OCT 25 up 0.3% at 3.46$/mmbtu
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Henry Hub has ticked up to the highest since June 13 after a further reduction in the US gas storage surplus according to EIA data yesterday.

  • The EIA weekly gas inventories for the week ending Sept. 27 showed an injection of 55bcf roughly in line with expectation but once again below the seasonal normal injection of about 94bcf. The working gas storage inventory surplus above the five year average is down to 190bcf.
  • US LNG export terminal feedgas supply is estimated at 12.23bcf/d, BNEF shows, will flows still curtailed by Cove Point maintenance.
  • Lower 48 natural gas demand is down slightly closer to normal today at 69.5bcf/d, according to Bloomberg. The latest weather forecast shows temperatures gradually following the seasonal trend lower but still holding above normal for much of the US. The NOAA forecast is relatively unchanged with eastern areas at or below normal for the 6-14 day period.
  • US domestic natural gas production is estimated at 101.7bcf/d on Oct. 3, according to Bloomberg, compared to an average of 101.5bcf/d over the previous week.
  • Export flows to Mexico are today estimated at 6.4bcf/d, according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures volume was 372k on Oct. 3.
    • US Natgas NOV 24 up 1.2% at 3.01$/mmbtu
    • US Natgas DEC 24 up 0.9% at 3.4$/mmbtu
    • US Natgas OCT 25 up 0.3% at 3.46$/mmbtu