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NATGAS: US Nat Gas Summary: Helene Power Outages Keep a Lid on Prices

NATGAS
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US nat gas prices face further pressure on Tuesday on lower demand forecasts as widescale power outages persist after Hurricane Helene knocked supplies in parts of the Southeast and Midwest.

  • US Natgas NOV 24 down -0.7% at 2.9$/mmbtu
  • The price weakness came even as lower output so far this year has cut the amount of the fuel going into storage for the 2024-2025 winter heating season. Storage injections in July, August and likely in September were at record lows.
  • LSEG said gas output in the Lower 48 U.S. states fell to an average of 101.8 billion cubic feet per day in September, down from 103.0 bcfd in August.
  • LSEG forecast average gas demand in the Lower 48, including exports, will rise from 95.0 bcfd this week to 96.0 bcfd next week on coller weather.
  • Feedgas flow to US LNG export terminals are today estimated at 12.16bcf/d, Bloomberg shows, compared to the September average of 12.6bcf/d.  Bloomberg data shows a dip in Cameron LNG and Sabine Pass LNG supply yesterday but back near normal today.
  • Export flows to Mexico are today estimated at 6.5bcf/d, according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures volume was 402k on Sept. 30.
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US nat gas prices face further pressure on Tuesday on lower demand forecasts as widescale power outages persist after Hurricane Helene knocked supplies in parts of the Southeast and Midwest.

  • US Natgas NOV 24 down -0.7% at 2.9$/mmbtu
  • The price weakness came even as lower output so far this year has cut the amount of the fuel going into storage for the 2024-2025 winter heating season. Storage injections in July, August and likely in September were at record lows.
  • LSEG said gas output in the Lower 48 U.S. states fell to an average of 101.8 billion cubic feet per day in September, down from 103.0 bcfd in August.
  • LSEG forecast average gas demand in the Lower 48, including exports, will rise from 95.0 bcfd this week to 96.0 bcfd next week on coller weather.
  • Feedgas flow to US LNG export terminals are today estimated at 12.16bcf/d, Bloomberg shows, compared to the September average of 12.6bcf/d.  Bloomberg data shows a dip in Cameron LNG and Sabine Pass LNG supply yesterday but back near normal today.
  • Export flows to Mexico are today estimated at 6.5bcf/d, according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures volume was 402k on Sept. 30.