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

NATGAS
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Front month Henry Hub is set for a 4.6% net weekly gain. Freeport has returned after a temporary outage, while storage remains above the five-year average and production levels are strong.

  • US Natgas OCT 24 down 1% at 2.12$/mmbtu
  • US Natgas MAR 25 down 1.3% at 2.88$/mmbtu
  • US gas rigs fell 2 on the week to 95, according to Baker Hughes. This is down 19 rigs, or 16.7% on the year.
  • US natural gas storage likely saw a below-average build of 34 bcf in the week to Aug. 30, according to a preliminary Reuters survey.
  • Waha natural gas prices have turned negative a record number of times in 2024, hitting an all-time low Aug. 30, Reuters said.
  • US domestic natural gas production remains strong at 102.9bcf/d today, Bloomberg said.
  • US LNG export terminal feedgas flows are estimated at 12.88bcf/d today, according to Bloomberg.
  • Domestic natural gas demand has dropped further to 75.5bcf/d, Bloomberg said.
  • Gazprom expects to begin flowing pipe natgas to China via the new 10bcma Far Eastern route from ‘the end of January 2027’.
  • The global LNG market remains 'fragile' ahead of winter amid bullish LNG signals, Platts said.
  • The number of US LNG export cargoes remained unchanged last week at 26, according to the EIA.
  • Golden Pass LNG has asked the US FERC for a three-year extension to complete the Texas export project, Platts said.
  • Asian spot LNG prices rose this week as outages in LNG facilities in Australia and Malaysia sparked supply concerns, Reuters said.
  • Israel produced 2.50 bcf/d of gas in Q2, down fractionally on Q1 but the third highest on record, MEES said.
  • Argentina’s Enarsa has awarded its LNG tender for two cargoes to Vitol, sources told Platts Aug. 30.
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Front month Henry Hub is set for a 4.6% net weekly gain. Freeport has returned after a temporary outage, while storage remains above the five-year average and production levels are strong.

  • US Natgas OCT 24 down 1% at 2.12$/mmbtu
  • US Natgas MAR 25 down 1.3% at 2.88$/mmbtu
  • US gas rigs fell 2 on the week to 95, according to Baker Hughes. This is down 19 rigs, or 16.7% on the year.
  • US natural gas storage likely saw a below-average build of 34 bcf in the week to Aug. 30, according to a preliminary Reuters survey.
  • Waha natural gas prices have turned negative a record number of times in 2024, hitting an all-time low Aug. 30, Reuters said.
  • US domestic natural gas production remains strong at 102.9bcf/d today, Bloomberg said.
  • US LNG export terminal feedgas flows are estimated at 12.88bcf/d today, according to Bloomberg.
  • Domestic natural gas demand has dropped further to 75.5bcf/d, Bloomberg said.
  • Gazprom expects to begin flowing pipe natgas to China via the new 10bcma Far Eastern route from ‘the end of January 2027’.
  • The global LNG market remains 'fragile' ahead of winter amid bullish LNG signals, Platts said.
  • The number of US LNG export cargoes remained unchanged last week at 26, according to the EIA.
  • Golden Pass LNG has asked the US FERC for a three-year extension to complete the Texas export project, Platts said.
  • Asian spot LNG prices rose this week as outages in LNG facilities in Australia and Malaysia sparked supply concerns, Reuters said.
  • Israel produced 2.50 bcf/d of gas in Q2, down fractionally on Q1 but the third highest on record, MEES said.
  • Argentina’s Enarsa has awarded its LNG tender for two cargoes to Vitol, sources told Platts Aug. 30.