Natural Gas End of Day Summary: Henry Hub Falls

Henry Hub is tracking the wider energy complex and has erased most earlier losses with today’s US economic data countering the narrative of a looming US recession.

• US Natgas SEP 24 down 1% at 1.95$/mmbtu
• US Natgas FEB 25 down 1% at 3.23$/mmbtu
• Services PMI revised down to 55.0. Despite the dip, the above 50 readings points to a solid backdrop and shows no sign of the surprise weakness seen in the June ISM Services report
• US domestic natural gas production was yesterday estimated in line with the average so far in August of 103.7bcf/d: Bloomberg
• US LNG export terminal feedgas flows are today steady at 13.08bcf/d: Bloomberg
• Domestic lower 48 natural gas demand remains well above normal at 82.2bcf/d today: Bloomberg
• US cooling demand for the week ending Aug. 10 is forecast to be 19 cooling CDD above normal: Bloomberg/NOAA
• Recommendations for Woodside Energy Browse gas project will be released in 2025 according to the regulator, responding to media reports over the weekend it may be rejected.
• Petronas has asked some lifters of LNG from Malaysia’s LNG Tiga to defer some August loadings from Bintulu by over a week, Platts said.
• LNG tanker crossings through the Panama Canal have increased in recent months but remain below high levels seen last year: ICIS.
• Russia’s Sakhalin-2 LNG plant has fully resumed LNG output after maintenance: operator
• The Novatek-operated LNG 2 export plan on Russia’s Gydan Peninsula has exported it first LNG cargo via the 138 mcm Pioneer LNG tanker, according to Kpler.