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NATGAS: Henry Hub Weighs Low Production with Warm Weather Forecast

NATGAS
BulletEnergy BulletsCommodities

Henry Hub is near unchanged on the day with the slow recovery in Gulf of Mexico production weighed against limited demand due to a warm weather forecast.

  • US domestic natural gas production was at 100.5bcf/d yesterday, according to Bloomberg, to remain below pre hurricane levels. About 298mcf (or 16%) of natural gas output in the U.S. Gulf of Mexico was still offline following Hurricane Francine, the U.S. Bureau of Safety and Environmental Enforcement (BSEE) said on Monday.
  • Gas flows to US LNG export terminals is up to 13.07bcf/d today after falling to a low of 11.47bcf/d on Sept. 13, according to BNEF, compared to an average of 13.2bcf/d before the hurricane disruption.
  • Domestic natural gas demand is today estimated up to 72.0bcf/d, according to Bloomberg, compared to the seasonal normal of around 65.5bcf/d. The latest forecast still shows Lower 48 temperatures holding above normal through the coming two weeks.
  • Export flows to Mexico are today estimated to recover slightly on the day to 6.6bcf/d, according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures volume was 447k on Sept. 16.
    • US Natgas OCT 24 up 0.1% at 2.38$/mmbtu
    • US Natgas MAR 25 down 0.2% at 2.91$/mmbtu
    • US Natgas SEP 25 up 0.1% at 3.14$/mmbtu
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Henry Hub is near unchanged on the day with the slow recovery in Gulf of Mexico production weighed against limited demand due to a warm weather forecast.

  • US domestic natural gas production was at 100.5bcf/d yesterday, according to Bloomberg, to remain below pre hurricane levels. About 298mcf (or 16%) of natural gas output in the U.S. Gulf of Mexico was still offline following Hurricane Francine, the U.S. Bureau of Safety and Environmental Enforcement (BSEE) said on Monday.
  • Gas flows to US LNG export terminals is up to 13.07bcf/d today after falling to a low of 11.47bcf/d on Sept. 13, according to BNEF, compared to an average of 13.2bcf/d before the hurricane disruption.
  • Domestic natural gas demand is today estimated up to 72.0bcf/d, according to Bloomberg, compared to the seasonal normal of around 65.5bcf/d. The latest forecast still shows Lower 48 temperatures holding above normal through the coming two weeks.
  • Export flows to Mexico are today estimated to recover slightly on the day to 6.6bcf/d, according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures volume was 447k on Sept. 16.
    • US Natgas OCT 24 up 0.1% at 2.38$/mmbtu
    • US Natgas MAR 25 down 0.2% at 2.91$/mmbtu
    • US Natgas SEP 25 up 0.1% at 3.14$/mmbtu