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NATGAS: Natural Gas End of Day Summary: Henry Hub Continues Rally

NATGAS
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Henry Hub has pared some earlier gains but is still on track for its highest close since Jan. 27. 

  • US Natgas MAR 25 up 1.9% at 3.63$/mmbtu
  • US Natgas APR 25 up 1.4% at 3.62$/mmbtu
  • The EIA weekly gas inventories for the week ending Feb. 7 showed a withdrawal of 100bcf, roughly in line with expectations. The seasonal five-year average was a net withdrawal of around 144bcf.
  • Total stocks are down to 2,297bcf and 248bcf below levels seen a year ago and 67bcf below the previous five-year average of 2,364bcf.
  • US LNG export terminal feedgas has hit a new record high at 15.39bcf/d today, Bloomberg shows.
  • The NOAA forecast shows below normal in most of the US in the 6–10-day period but with warmer weather spreading from the west in the 8–14-day period.
  • US domestic natural gas production is 104.9bcf/d today, while lower 48 demand is 119.0bcf/d, Bloomberg shows.
  • European gas storage withdrawals are above normal again as stores fall to 47.24% full on Feb. 11, according to GIE, compared to the previous five year average of 55.7%.
  • LNG loading disruptions from Western Australia due to category 5 Tropical Cyclone Zelia are bullish for JKM because Japanese importers will seek short-notice replacement cargoes, Platts said.
  • Mexico’s government plans to boost natural gas production from Pemex to 5 bcm/y by 2030, NGI reported.
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Henry Hub has pared some earlier gains but is still on track for its highest close since Jan. 27. 

  • US Natgas MAR 25 up 1.9% at 3.63$/mmbtu
  • US Natgas APR 25 up 1.4% at 3.62$/mmbtu
  • The EIA weekly gas inventories for the week ending Feb. 7 showed a withdrawal of 100bcf, roughly in line with expectations. The seasonal five-year average was a net withdrawal of around 144bcf.
  • Total stocks are down to 2,297bcf and 248bcf below levels seen a year ago and 67bcf below the previous five-year average of 2,364bcf.
  • US LNG export terminal feedgas has hit a new record high at 15.39bcf/d today, Bloomberg shows.
  • The NOAA forecast shows below normal in most of the US in the 6–10-day period but with warmer weather spreading from the west in the 8–14-day period.
  • US domestic natural gas production is 104.9bcf/d today, while lower 48 demand is 119.0bcf/d, Bloomberg shows.
  • European gas storage withdrawals are above normal again as stores fall to 47.24% full on Feb. 11, according to GIE, compared to the previous five year average of 55.7%.
  • LNG loading disruptions from Western Australia due to category 5 Tropical Cyclone Zelia are bullish for JKM because Japanese importers will seek short-notice replacement cargoes, Platts said.
  • Mexico’s government plans to boost natural gas production from Pemex to 5 bcm/y by 2030, NGI reported.