MNI BRIEF: Trump Likely To Let Powell Serve Full Term-Moore

MNI BRIEF: Canada Household Debt Tops $3 Trillion In 3Q

MNI BRIEF: Trump Likely To Allow Powell To Serve Term - Moore

MNI INTERVIEW2: Poland To Push For EU Defence Fund

MNI BRIEF: China To Keep Stabilising Housing Market - CEWC

MNI BRIEF: China Focus On Boosting Consumption In 2025

EZ/UK Bond Supply Calendar: Belgium ORI Facility on Friday

US EIA:NAT GAS STORAGE -190 BCF TO 3,747 BCF DEC 06 WK

MNI: US JOBLESS CLAIMS +17K TO 242K IN DEC 07 WK

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

NATGAS: NatGas End of Day: U.S. NatGas Surges Supported by Helene

NATGAS
Energy BulletsBulletPower BulletsCommodities

Hurricane Helene battered Gulf of Mexico producers this week, helping to support US natural gas futures over 6% at points to a 14-week high.

  • US Natgas NOV 24 up 5.8% at 2.91$/mmbtu
  • Prices were also supported as the amount of gas flowing to Venture Global's Plaquemines LNG export plant in Louisiana was on track to match a high of around 35 million cubic feet per day that it hit in mid-August, but still well below its 1.8 billion cubic feet per day capacity.
  • About 25% of crude oil production and 20% of natural gas output in the U.S. Gulf of Mexico was shut in as a result of the hurricane, the Bureau of Safety and Environmental Enforcement said on Thursday.
  • LSEG said gas output in the Lower 48 U.S. states has fallen to an average of 101.9 bcfd so far in September, down from 103.2 bcfd in August. That compares with a record 105.5 bcfd in December 2023.
  • LSEG forecast average gas demand in the Lower 48, including exports, will drop from 99.6 bcfd this week to 98.4 bcfd next week and 98.1 bcfd in two weeks. Those forecasts were similar to LSEG's outlook on Thursday.
  • The number of US LNG export cargoes fell to 22 in the week to Sept. 25 from 27 cargoes the previous week amid Cove Point Maintenance, according to the EIA.
  • Total capacity of the vessels was down to 87bcf compared to 102bcf last week based on Bloomberg data.
237 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Hurricane Helene battered Gulf of Mexico producers this week, helping to support US natural gas futures over 6% at points to a 14-week high.

  • US Natgas NOV 24 up 5.8% at 2.91$/mmbtu
  • Prices were also supported as the amount of gas flowing to Venture Global's Plaquemines LNG export plant in Louisiana was on track to match a high of around 35 million cubic feet per day that it hit in mid-August, but still well below its 1.8 billion cubic feet per day capacity.
  • About 25% of crude oil production and 20% of natural gas output in the U.S. Gulf of Mexico was shut in as a result of the hurricane, the Bureau of Safety and Environmental Enforcement said on Thursday.
  • LSEG said gas output in the Lower 48 U.S. states has fallen to an average of 101.9 bcfd so far in September, down from 103.2 bcfd in August. That compares with a record 105.5 bcfd in December 2023.
  • LSEG forecast average gas demand in the Lower 48, including exports, will drop from 99.6 bcfd this week to 98.4 bcfd next week and 98.1 bcfd in two weeks. Those forecasts were similar to LSEG's outlook on Thursday.
  • The number of US LNG export cargoes fell to 22 in the week to Sept. 25 from 27 cargoes the previous week amid Cove Point Maintenance, according to the EIA.
  • Total capacity of the vessels was down to 87bcf compared to 102bcf last week based on Bloomberg data.