October 22, 2024 11:50 GMT
NATGAS: Henry Hub Weighs Cooler Weather Against Drop in LNG Feedgas
NATGAS
Henry Hub is easing back from gains yesterday with cooler weather forecast for the west of the US set against a drop in LNG export terminal feedgas flows.
- Lower 48 natural gas demand is back above normal up to 69.5bcf/d today, according to Bloomberg. US lower 48 temperatures are forecast above normal but with colder weather developing in the west through the 6-14 day period according to the latest NOAA forecast.
- US LNG export terminal feedgas supply is estimated down at 11.8bcf/d today, BNEF shows, down from up at nearly 14bcf/d on Oct. 17. Cameron LNG feedgas nominations remains below normal while Sabine Pass supply has also dropped today by around 0.7bcf/d suggesting a drop in volumes equivalent to about one train at each facility.
- US domestic natural gas production remained relatively unchanged at 102.7bcf/d yesterday, according to Bloomberg, compared to an average of 102.6bcf/d over the previous week.
- Export flows to Mexico are estimated at 6.8bcf/d today, according to Bloomberg.
- Nymex Henry Hub daily aggregate traded futures volume was 478k on Oct. 21.
- US Natgas NOV 24 up 0% at 2.31$/mmbtu
- US Natgas DEC 24 up 0.4% at 2.82$/mmbtu
- US Natgas OCT 25 up 0.3% at 3.21$/mmbtu
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