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

NATGAS
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Henry Hub lost ground in the run up to US close and fell around 8% on the week. Mixed weather forecasts and power disruption following Hurricane Milton will add pressure. Meanwhile, the global energy market focus remains on the supply uncertainty from the Middle East.

  • US Natgas NOV 24 down 1.7% at 2.63$/mmbtu
  • US Natgas APR 25 down 1.9% at 2.84$/mmbtu
  • The total gas rig count was down 1 on the week to 101. This is down 16 rigs, or 13.7% on the year.
  • Lower 48 natural gas demand is 66.7bcf/d today, according to Bloomberg.
  • The NOAA forecast has turned slightly warmer for the east and now showing temperatures closer to normal.
  • US LNG export terminal feedgas supply is 12.46bcf/d today, BNEF shows,
  • US domestic gas production hit the highest since early September at 102.1bcf/d today, Bloomberg said,
  • Weaker European LNG intermonth price contango implied a reduced incentive for floating cargoes, Platts said.
  • Train 2 at Australia's Ichthys LNG restarted Oct. 9. Train 1 is operating at about 70%. Ichthys expects to resume a 100% production rate in mid-November.
  • Asian spot LNG prices slightly slipped this week as demand remains tepid and supply ample, Reuters said.
  • Asia and the Middle East LNG market share increased in Q3 2024, ICIS said.
  • Japan considers increasing LNG purchases for the emergency reserve to at least 0.84m mtpa from 0.21m mt: Reuters.
  • The number of US LNG export cargoes rose 1 to 26 in the week to Oct. 9: EIA.
  • Brazil’s gas-fired power generation has surged by near 600% since mid-June.
  • Chevron has delayed expansion of Israel’s 23 Tcf Leviathan offshore gas field by six months: MEES.
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Henry Hub lost ground in the run up to US close and fell around 8% on the week. Mixed weather forecasts and power disruption following Hurricane Milton will add pressure. Meanwhile, the global energy market focus remains on the supply uncertainty from the Middle East.

  • US Natgas NOV 24 down 1.7% at 2.63$/mmbtu
  • US Natgas APR 25 down 1.9% at 2.84$/mmbtu
  • The total gas rig count was down 1 on the week to 101. This is down 16 rigs, or 13.7% on the year.
  • Lower 48 natural gas demand is 66.7bcf/d today, according to Bloomberg.
  • The NOAA forecast has turned slightly warmer for the east and now showing temperatures closer to normal.
  • US LNG export terminal feedgas supply is 12.46bcf/d today, BNEF shows,
  • US domestic gas production hit the highest since early September at 102.1bcf/d today, Bloomberg said,
  • Weaker European LNG intermonth price contango implied a reduced incentive for floating cargoes, Platts said.
  • Train 2 at Australia's Ichthys LNG restarted Oct. 9. Train 1 is operating at about 70%. Ichthys expects to resume a 100% production rate in mid-November.
  • Asian spot LNG prices slightly slipped this week as demand remains tepid and supply ample, Reuters said.
  • Asia and the Middle East LNG market share increased in Q3 2024, ICIS said.
  • Japan considers increasing LNG purchases for the emergency reserve to at least 0.84m mtpa from 0.21m mt: Reuters.
  • The number of US LNG export cargoes rose 1 to 26 in the week to Oct. 9: EIA.
  • Brazil’s gas-fired power generation has surged by near 600% since mid-June.
  • Chevron has delayed expansion of Israel’s 23 Tcf Leviathan offshore gas field by six months: MEES.