November 28, 2024 18:03 GMT
NATGAS: Natural Gas End of Day Summary: Henry Hub Climbs
NATGAS
Henry Hub is edging to a new intraday high on thin volumes due to the US Thanksgiving holiday. This is rebounding some of the steeper losses from yesterday after a small US gas storage draw as expected in EIA data.
- US Natgas JAN 25 up 2.6% at 3.29$/mmbtu
- US Natgas JUN 25 up 1.3% at 3.13$/mmbtu
- Lower 48 natural gas demand is holding just above normal at 88.0bcf/d today, according to Bloomberg. Weather forecasts suggest a mixed picture with NOAA 6-14 showing above normal in the west spreading across the US but with below normal temperatures still on the East Coast.
- US LNG export terminal feedgas supply is estimated up on the day to 13.73bcf/d today, BNEF shows with a slight recovery in Freeport and higher Sabine Pass supplies.
- US domestic natural gas production was estimated almost unchanged on the day up at 104.3cf/d yesterday according to Bloomberg.
- European gas storage is down to 87.04% full on Nov. 26, according to GIE compared to the previous five-year average of 89.2% with near normal net withdrawals since Nov. 24.
- NWE, Italy and Austria are forecast to end March with gas storage in line with the five-year average at 26bcm or 34% full, according to a BNEF base case.
- German natural gas consumption in the week to Nov. 24 increased 7.95% from the previous week but now 6.9% below the 2018-21 average, Bnetza data showed.
- Venture Global has sold LNG cargoes from its new Plaquemines terminal for the initial months of 2025 through a short-term strip offered earlier in 2024, sources told Platts.
- The Trader III, laden with LNG volumes reloaded from Brazil’s Sergipe import terminal, arrived at Petrobras’ Guanabara regasification terminal in Rio Nov. 28, Platts said.
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