Natural Gas End of Day Summary: Henry Hub Falls

US Henry Hub has weakened on the day, despite some gains seen earlier in European hours, as strong domestic production and warmer weather put pressure on prices.

• US Natgas JAN 24 down -1.2% at 2.8$/mmbtu
• US Natgas JUN 24 down -1.3% at 2.81$/mmbtu
• US lower 48 natural gas demand is estimated down from the recent peak today to 97.5bcf/d according to Bloomberg.
• The NOAA forecast shows above normal temperatures across central and western areas in the 6–14-day period but near normal on the East Coast.
• Feedgas flows to US LNG export terminals are today estimated back up to 14.4bcf/d according to Bloomberg with a recovery in Sabine Pass.
• Domestic natural gas production was yesterday still strong at 105.3bcf/d but below the record high of 106.5bcf/d the previous day.
• Congestion at the Panama Canal could have a knock-on effect at the Suez Canal, potentially affecting LNG cargoes, according to Deputy CEO of Greek shipping giant Angelicoussis Group and reported by Bloomberg.
• Cheniere has signed a long-term Integrated Production Marketing (IPM) gas supply agreement with ARC Resources and OMV for its Sabine Pass Expansion project according to Bloomberg.
• LNG inventories held by Japanese utilities fell by 6.43% on the week to 2.33mn tons as of 26 November according to trade ministry data.
• LNG production in Russia rose 10.7% on the month to 3m mt in October, according to Interfax citing Rosstat.
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