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NATGAS: Natural Gas End of Day Summary: Henry Hub Highest Since July 8

NATGAS
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Henry Hub is set for its highest close since July 8. Support comes from another below average and below expectation build in US natural gas stockpiles, further eroding the storage surplus.

  • US Natgas OCT 24 up 3.8% at 2.36$/mmbtu
  • US Natgas MAR 25 up 0.1% at 2.93$/mmbtu
  • The EIA weekly gas inventories for the week ending Sep. 6 showed an injection of 40bcf compared to the expectation for an injection of 47bcf according to a Bloomberg survey and the seasonal normal injection of about 67 bcf.
  • Total US storage inventories are now 3,387bcf, holding a surplus of 296bcf, down from 323bcf last week.
  • US domestic natural gas production at 100.2bcf/d yesterday, according to Bloomberg,
  • Gas flows to the seven operational US LNG export plants was relatively unchanged on the day at 11.9bcf/d, according to BNEF.
  • Domestic natural gas demand edged down slightly to 70.5bcf/d today but still above the previous five-year seasonal average.
  • NOAA shows above normal temperatures are expected in central and eastern areas throughout the 6–14-day period but below normal temperatures are forecast for the west.
  • Hurricane Francine has caused power outages across Louisiana including near Plaquemines LNG, according to data from utility Entergy cited by Bloomberg.
  • Pipeline operator Enbridge issued a force majeure notice for its Nautilus and Garden Banks natural gas systems after Hurricane Francine, Bloomberg said.
  • LNG export developer Glenfarne announced a preliminary head of agreement with an undisclosed global LNG player from its planned Texas LNG project, according to a company statement cited by Bloomberg.
  • Asian LNG importers are increasingly using flexible LNG contracts to manage supply security, executives said at APPEC, cited by Platts.
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Henry Hub is set for its highest close since July 8. Support comes from another below average and below expectation build in US natural gas stockpiles, further eroding the storage surplus.

  • US Natgas OCT 24 up 3.8% at 2.36$/mmbtu
  • US Natgas MAR 25 up 0.1% at 2.93$/mmbtu
  • The EIA weekly gas inventories for the week ending Sep. 6 showed an injection of 40bcf compared to the expectation for an injection of 47bcf according to a Bloomberg survey and the seasonal normal injection of about 67 bcf.
  • Total US storage inventories are now 3,387bcf, holding a surplus of 296bcf, down from 323bcf last week.
  • US domestic natural gas production at 100.2bcf/d yesterday, according to Bloomberg,
  • Gas flows to the seven operational US LNG export plants was relatively unchanged on the day at 11.9bcf/d, according to BNEF.
  • Domestic natural gas demand edged down slightly to 70.5bcf/d today but still above the previous five-year seasonal average.
  • NOAA shows above normal temperatures are expected in central and eastern areas throughout the 6–14-day period but below normal temperatures are forecast for the west.
  • Hurricane Francine has caused power outages across Louisiana including near Plaquemines LNG, according to data from utility Entergy cited by Bloomberg.
  • Pipeline operator Enbridge issued a force majeure notice for its Nautilus and Garden Banks natural gas systems after Hurricane Francine, Bloomberg said.
  • LNG export developer Glenfarne announced a preliminary head of agreement with an undisclosed global LNG player from its planned Texas LNG project, according to a company statement cited by Bloomberg.
  • Asian LNG importers are increasingly using flexible LNG contracts to manage supply security, executives said at APPEC, cited by Platts.