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NATGAS: Natural Gas End of Day Summary: Henry Hub Eases Back from High

NATGAS
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Henry Hub has erased earlier gains to be trading lower on the day. However, front month remains within yesterday’s intraday range and at levels last seen on June. 28.

  • US Natgas OCT 24 down 2.8% at 2.54$/mmbtu
  • US Natgas MAR 25 down 1.6% at 3.06$/mmbtu
  • A tropical disturbance is expected to develop into a major hurricane before approaching the northeastern US Gulf Coast on Thursday.
  • Domestic natural gas demand is up at 72.7bcf/d today, according to Bloomberg.
  • US cooling demand for the week ending Sep. 28 is forecast to be 18 cooling degree days (CDD) above the long-term normal, according to Bloomberg, citing the NOAA.
  • US cooling demand for the week ending Sep. 28 is forecast to be 18 heating degree days (HDD) below the long-term normal, according to Bloomberg, citing the NOAA.
  • US domestic natural gas production was yesterday up slightly to 101.2bcf/d, according to Bloomberg.
  • Feedgas flow to US LNG export terminals was down further on the day to 11.70bcf/d today, Bloomberg said.
  • LNG floating storage has resumed the increasing trend in place since mid-August after a brief dip last week.
  • Canadian natural gas prices fall to the lowest since August 2022.
  • China’s natural gas consumption is exceeding expectations in 2024, , according to OilChem.
  • A colder-than-normal winter in Asia would raise demand for LNG as the region competes with Europe to secure winter supplies.
  • The LNG tanker Qogir left Venture Global LNG’s US Plaquemines export facility in Louisiana by Tuesday morning, according to LSEG, after waiting at the plant since Aug. 23.
  • Bangladesh's RPGCL is seeking an LNG cargo for delivery on October 10-11, Reuters said.
  • US LNG deliveries to Europe have probably already peaked because the continent is reducing its gas consumption, MET’s CEO Benjamin Lakatos told Argus.
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Henry Hub has erased earlier gains to be trading lower on the day. However, front month remains within yesterday’s intraday range and at levels last seen on June. 28.

  • US Natgas OCT 24 down 2.8% at 2.54$/mmbtu
  • US Natgas MAR 25 down 1.6% at 3.06$/mmbtu
  • A tropical disturbance is expected to develop into a major hurricane before approaching the northeastern US Gulf Coast on Thursday.
  • Domestic natural gas demand is up at 72.7bcf/d today, according to Bloomberg.
  • US cooling demand for the week ending Sep. 28 is forecast to be 18 cooling degree days (CDD) above the long-term normal, according to Bloomberg, citing the NOAA.
  • US cooling demand for the week ending Sep. 28 is forecast to be 18 heating degree days (HDD) below the long-term normal, according to Bloomberg, citing the NOAA.
  • US domestic natural gas production was yesterday up slightly to 101.2bcf/d, according to Bloomberg.
  • Feedgas flow to US LNG export terminals was down further on the day to 11.70bcf/d today, Bloomberg said.
  • LNG floating storage has resumed the increasing trend in place since mid-August after a brief dip last week.
  • Canadian natural gas prices fall to the lowest since August 2022.
  • China’s natural gas consumption is exceeding expectations in 2024, , according to OilChem.
  • A colder-than-normal winter in Asia would raise demand for LNG as the region competes with Europe to secure winter supplies.
  • The LNG tanker Qogir left Venture Global LNG’s US Plaquemines export facility in Louisiana by Tuesday morning, according to LSEG, after waiting at the plant since Aug. 23.
  • Bangladesh's RPGCL is seeking an LNG cargo for delivery on October 10-11, Reuters said.
  • US LNG deliveries to Europe have probably already peaked because the continent is reducing its gas consumption, MET’s CEO Benjamin Lakatos told Argus.