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NATGAS: Natural Gas End of Day Summary: Henry Hub Climbs

NATGAS
Energy BulletsBulletPower BulletsCommodities

Henry Hub has gained ground in US hours, as the market weighs power demand disruption against mixed weather forecasts and a continued shrinking of the US storage surplus.

  • US Natgas NOV 24 up 0.4% at 2.67$/mmbtu
  • US Natgas APR 25 down 0.5% at 2.89$/mmbtu
  • The EIA weekly gas inventories for the week ending Oct. 4 showed an injection of 82bcf compared to the expectation for an injection of 73bcf according to a Bloomberg survey and the seasonal normal injection of about 96bcf.
  • US working gas storage inventories however still hold a surplus of 176bcf above the five-year average, with total stocks at 3,629bcf.
  • Lower 48 natural gas demand is 71.4bcf/d today, according to Bloomberg
  • The NOAA 6-10 day forecast shows below normal temperatures in the eastern and Gulf Coast regions but above normal still in the west.  Above normal temperatures return across much of the country in the 8-14 day period.
  • US LNG export terminal feedgas supply is estimated at 12.25bcf/d today, BNEF shows, with Cove Point supply still halted due to maintenance and with another slight dip in Sabine Pass supply.
  • US domestic natural gas production is estimated up at the highest since early September at 101.9bcf/d today, according to Bloomberg.
  • Egypt’s EGPC cancelled a prompt buy tender for Oct. 10-11 delivery into Jordan’s Aqaba terminal, sources told Platts.
  • LNG freight rates out of the USGC have fallen to four-month lows on healthy vessel availability and muted demand in the second week of the heating season.
  • Oman LNG has signed a four-year LNG supply agreement with Japan's Kansai Electric Power.
  • The delivery of cool-down volumes to the 2.3mtpa Tortue LNG project, which would signal progress towards start up, looks to have been delayed ICIS said.
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Henry Hub has gained ground in US hours, as the market weighs power demand disruption against mixed weather forecasts and a continued shrinking of the US storage surplus.

  • US Natgas NOV 24 up 0.4% at 2.67$/mmbtu
  • US Natgas APR 25 down 0.5% at 2.89$/mmbtu
  • The EIA weekly gas inventories for the week ending Oct. 4 showed an injection of 82bcf compared to the expectation for an injection of 73bcf according to a Bloomberg survey and the seasonal normal injection of about 96bcf.
  • US working gas storage inventories however still hold a surplus of 176bcf above the five-year average, with total stocks at 3,629bcf.
  • Lower 48 natural gas demand is 71.4bcf/d today, according to Bloomberg
  • The NOAA 6-10 day forecast shows below normal temperatures in the eastern and Gulf Coast regions but above normal still in the west.  Above normal temperatures return across much of the country in the 8-14 day period.
  • US LNG export terminal feedgas supply is estimated at 12.25bcf/d today, BNEF shows, with Cove Point supply still halted due to maintenance and with another slight dip in Sabine Pass supply.
  • US domestic natural gas production is estimated up at the highest since early September at 101.9bcf/d today, according to Bloomberg.
  • Egypt’s EGPC cancelled a prompt buy tender for Oct. 10-11 delivery into Jordan’s Aqaba terminal, sources told Platts.
  • LNG freight rates out of the USGC have fallen to four-month lows on healthy vessel availability and muted demand in the second week of the heating season.
  • Oman LNG has signed a four-year LNG supply agreement with Japan's Kansai Electric Power.
  • The delivery of cool-down volumes to the 2.3mtpa Tortue LNG project, which would signal progress towards start up, looks to have been delayed ICIS said.