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Natural Gas End of Day Summary: Henry Hub Continues Climb

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Henry Hub front month is on track for its highest close since Jan. 18 amid concerns over the outlook for US production. This is despite ongoing disruption to US LNG export terminal feedgas flows.

  • US Natgas JUN 24 up 4.5% at 2.74$/mmbtu
  • US Natgas NOV 24 up 1.9% at 3.21$/mmbtu
  • US terminal feedgas flows are at 12.34bcf/d today according to Bloomberg. Flows to Sabine Pass and Cameron are still curtailed while Corpus Christi supply has also dropped by around 0.55bcf/d today.
  • US domestic natural gas production is today estimated at 99.9bcf/d according to Bloomberg. Production has averaged 99.9bcf/d so far in May and was 99.6bcf/d in April compared to around 101bcf/d this time last year.
  • Domestic natural gas demand has edged slightly higher today up to 67.9bcf/d according to Bloomberg.
  • The weather forecast is relatively unchanged since last week in the 6-10 day period according to NOAA.
  • Natural gas production increased 9.8bcm m/m in March but was approximately 9.7bcm or 5% down year-on-year driven by the US: JODI
  • Asian LNG prices appeared set to fall but will likely retain a premium to Europe as the region fills its storage, consultancy Afry told Montel.
  • The LNG vessel Minerva Limnos delivered a US LNG cargo into Jordan over the weekend according to ICIS.
  • LNG imports to China are surging with buyers incentivized by lower prices this year according to BNEF.
  • Abu Dhabi National Oil co announced an 11.7% stake in phase 1 (trains 1-3) of NextDecade’s nat gas export project in Texas, Rio Grande on Monday.
  • In Jan-April, Russia’s gas production was up around 8% on the year to 246.6 bcm, Russia’s President Vladimir Putin said May 20.
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Henry Hub front month is on track for its highest close since Jan. 18 amid concerns over the outlook for US production. This is despite ongoing disruption to US LNG export terminal feedgas flows.

  • US Natgas JUN 24 up 4.5% at 2.74$/mmbtu
  • US Natgas NOV 24 up 1.9% at 3.21$/mmbtu
  • US terminal feedgas flows are at 12.34bcf/d today according to Bloomberg. Flows to Sabine Pass and Cameron are still curtailed while Corpus Christi supply has also dropped by around 0.55bcf/d today.
  • US domestic natural gas production is today estimated at 99.9bcf/d according to Bloomberg. Production has averaged 99.9bcf/d so far in May and was 99.6bcf/d in April compared to around 101bcf/d this time last year.
  • Domestic natural gas demand has edged slightly higher today up to 67.9bcf/d according to Bloomberg.
  • The weather forecast is relatively unchanged since last week in the 6-10 day period according to NOAA.
  • Natural gas production increased 9.8bcm m/m in March but was approximately 9.7bcm or 5% down year-on-year driven by the US: JODI
  • Asian LNG prices appeared set to fall but will likely retain a premium to Europe as the region fills its storage, consultancy Afry told Montel.
  • The LNG vessel Minerva Limnos delivered a US LNG cargo into Jordan over the weekend according to ICIS.
  • LNG imports to China are surging with buyers incentivized by lower prices this year according to BNEF.
  • Abu Dhabi National Oil co announced an 11.7% stake in phase 1 (trains 1-3) of NextDecade’s nat gas export project in Texas, Rio Grande on Monday.
  • In Jan-April, Russia’s gas production was up around 8% on the year to 246.6 bcm, Russia’s President Vladimir Putin said May 20.