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

NATGAS
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Henry Hub has maintained most of its gains on the day, supported by a smaller than expected injection into US natural gas storage last week.

  • US Natgas OCT 24 up 4.9% at 2.25$/mmbtu
  • US Natgas MAR 25 up 1.1% at 2.94$/mmbtu
  • The EIA weekly data for the week to August 30 showed an injection of 13bcf compared to a Bloomberg forecast of 27bcf and the seasonal normal injection of 45bcf.
  • US storage inventories however still hold a surplus of 323bcf.
  • US natural gas storage is on track to end the April-October summer injection season at a four-year high of 3.908 Tcf, Reuters estimates.
  • Domestic natural gas demand remains stable at 71.6bcf/d, Bloomberg said.
  • Lower 48 temperatures are forecast to drop below normal into the weekend before rising back above normal next week.
  • US domestic natural gas production dipped to 100.49bcf/d yesterday, Bloomberg said, compared to an average of 102.6bcf/d over the previous week.
  • US LNG export terminal feedgas flows are estimated at 13.25bcf/d today, according to Bloomberg.
  • US LNG exports in August rose 10.4% from July and 5% higher than August 2023 at 7.35 mt: Kpler.
  • The Matterhorn Pipeline in Texas was moving small amounts of gas from the Permian basin, Reuters said.
  • Chinese gas importers have added two more LNG terminals, Bloomberg said.
  • Shell’s LNG long-term deal with Turkey’s Botas for 4 bcm/y of gas on a hybrid formula, according to Platts.
  • Bangladesh will resume purchasing LNG from the spot again after a two-month hiatus.
  • Asian LNG price declines in recent days have prompted increased interest from buyers in India with the fuel more competitive against alternatives.
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Henry Hub has maintained most of its gains on the day, supported by a smaller than expected injection into US natural gas storage last week.

  • US Natgas OCT 24 up 4.9% at 2.25$/mmbtu
  • US Natgas MAR 25 up 1.1% at 2.94$/mmbtu
  • The EIA weekly data for the week to August 30 showed an injection of 13bcf compared to a Bloomberg forecast of 27bcf and the seasonal normal injection of 45bcf.
  • US storage inventories however still hold a surplus of 323bcf.
  • US natural gas storage is on track to end the April-October summer injection season at a four-year high of 3.908 Tcf, Reuters estimates.
  • Domestic natural gas demand remains stable at 71.6bcf/d, Bloomberg said.
  • Lower 48 temperatures are forecast to drop below normal into the weekend before rising back above normal next week.
  • US domestic natural gas production dipped to 100.49bcf/d yesterday, Bloomberg said, compared to an average of 102.6bcf/d over the previous week.
  • US LNG export terminal feedgas flows are estimated at 13.25bcf/d today, according to Bloomberg.
  • US LNG exports in August rose 10.4% from July and 5% higher than August 2023 at 7.35 mt: Kpler.
  • The Matterhorn Pipeline in Texas was moving small amounts of gas from the Permian basin, Reuters said.
  • Chinese gas importers have added two more LNG terminals, Bloomberg said.
  • Shell’s LNG long-term deal with Turkey’s Botas for 4 bcm/y of gas on a hybrid formula, according to Platts.
  • Bangladesh will resume purchasing LNG from the spot again after a two-month hiatus.
  • Asian LNG price declines in recent days have prompted increased interest from buyers in India with the fuel more competitive against alternatives.