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NATGAS: Henry Hub Weighs Colder Weather and Hurricane Milton Impact

NATGAS
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Henry Hub front month has stabilized after a decline from a high of $3.019/mmbtu on Friday as the market weighs the impact of colder weather in the east next week and potential power demand disruption as Hurricane Milton makes landfall in Florida on Thursday morning.

  • Lower 48 natural gas demand is still above normal despite a slight dip on the day, estimated at 70.6bcf/d today, according to Bloomberg. The NOAA 6-10 day forecast has shifted colder in the eastern half of the country but remains above normal in the west while most areas are still showing above normal in the 8-14 day period.
  • US LNG export terminal feedgas supply is estimated at 12.36bcf/d today, BNEF shows, with Cove Point supply still halted due to maintenance.
  • US domestic natural gas production is estimated relatively unchanged on the day at 100.8bcf/d on Oct. 8, according to Bloomberg, compared to an average of 101.2bcf/d so far this month.
  • Export flows to Mexico are today estimated to recover up to 6.7bcf/d, according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures volume was 475k on Oct. 8.
    • US Natgas NOV 24 down 1.5% at 2.69$/mmbtu
    • US Natgas DEC 24 down 1.5% at 3.15$/mmbtu
    • US Natgas OCT 25 down 1.1% at 3.36$/mmbtu
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Henry Hub front month has stabilized after a decline from a high of $3.019/mmbtu on Friday as the market weighs the impact of colder weather in the east next week and potential power demand disruption as Hurricane Milton makes landfall in Florida on Thursday morning.

  • Lower 48 natural gas demand is still above normal despite a slight dip on the day, estimated at 70.6bcf/d today, according to Bloomberg. The NOAA 6-10 day forecast has shifted colder in the eastern half of the country but remains above normal in the west while most areas are still showing above normal in the 8-14 day period.
  • US LNG export terminal feedgas supply is estimated at 12.36bcf/d today, BNEF shows, with Cove Point supply still halted due to maintenance.
  • US domestic natural gas production is estimated relatively unchanged on the day at 100.8bcf/d on Oct. 8, according to Bloomberg, compared to an average of 101.2bcf/d so far this month.
  • Export flows to Mexico are today estimated to recover up to 6.7bcf/d, according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures volume was 475k on Oct. 8.
    • US Natgas NOV 24 down 1.5% at 2.69$/mmbtu
    • US Natgas DEC 24 down 1.5% at 3.15$/mmbtu
    • US Natgas OCT 25 down 1.1% at 3.36$/mmbtu