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

Henry Hub has been volatile today but has rebounded back to intraday highs. A slight dip in production is likely to be supportive.

• US Natgas OCT 24 up 3.3% at 2.2$/mmbtu
• US Natgas MAR 25 up 1% at 2.92$/mmbtu
• Domestic natural gas demand is relatively unchanged on the day at 71.7bcf/d, Bloomberg said.
• The latest NOAA 6-14 temperature forecast has warmed slightly in eastern areas since yesterday.
• US domestic natural gas production dipped to 101.6bcf/d yesterday, Bloomberg said.
• US LNG export terminal feedgas flows are estimated at 13.03bcf/d today, according to Bloomberg compared to an average of 12.7bcf/d in August.
• US LNG exports rose to 7.48m mt in August, up from 6.69m mt in July, according to Reuters.
• The US Henry Hub natural gas price is expected to fall to a four-year low in 2024, according to forecasts by Reuters.
• A backlog of LNG tankers has formed outside the Bintulu LNG facility after outages and maintenance work disrupted production in August.
• Global LNG demand fell 20% in the week to Sep 1 to 6.49m mt, according to BNEF.
• Asian LNG imports in August saw a slight decrease on the month with lower-than-expected consumption weighing on regional demand, Platts said.
• The Southeast Asian LNG marker fell to its widest discount vs JKM since October, Platts said.
• The global LNG market is vulnerable to further short-term tightening after recent demand in Asia, ICIS said.
• The Everest Energy LNG carrier is returning to Arctic LNG 2 in Russia to reload despite tighter US sanctions, Bloomberg said.
• The LNG carrier North Sky, recently sanctioned by the US, delivered a cargo to PetroChina’s Jiangsu Rudong LNG terminal Sep. 1, Platts said.
• Transits of laden LNG vessels through the Panama Canal increased in August, Platts said.