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Natural Gas End of Day Summary: Henry Hub Highest Since Jan 12

NATGAS
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Herny Hub is heading for its highest close since Jan. 12 as warmer weather, lower production and higher exports to Mexico year-on-year provide support.

  • US Natgas JUL 24 up 7.7% at 3.13$/mmbtu
  • US Natgas DEC 24 up 4.4% at 3.93$/mmbtu
  • US domestic natural gas production remains low at 99.8bcf/d yesterday according to Bloomberg.
  • Domestic natural gas demand remains unchanged above normal at 68.7bcf/d according to Bloomberg.
  • The NOAA 6-14 day forecast is unchanged on the day with above normal temperatures throughout most of the US except for the far north west.
  • US terminal feedgas flows are today at 12.73bcf/d according to Bloomberg with supplies to Sabine Pass down to 4.05bcf/d.
  • Kinder Morgan’s El Paso Natural Gas has experienced a fire at the Parker City Gate Delivery, requiring a line to be shut at Havasu Crossover in Arizona.
  • US Henry Hub spot prices for 2024 have been revised up by 26 cents/MMBtu to $2.46/MMBtu, according to the EIA in its June Short Term Energy Outlook.
  • Europe’s market share of global LNG deliveries has fallen to the lowest level since 2021, according to Platts.
  • The total estimated quantity of LNG on tankers that have not unloaded for at least 20 days rose by 21% over the last week to 4.28m mt as of June 9.
  • Global LNG imports fell 7% in the week to June 9 to 6.54m mt: BNEF.
  • The combined Russian pipeline natural gas and LNG volume in May 24 exceeded US supply into Europe for the first time in 21 months: ICIS.
  • TTF and JKM prices have seen a slight recovery since Mar 2024 amid higher coal for gas switching levels (CSP): Timera Energy.
  • Mexico’s Proven natural gas reserves rose to 12.297 Tcf, up from 11.029 Tcf.
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Herny Hub is heading for its highest close since Jan. 12 as warmer weather, lower production and higher exports to Mexico year-on-year provide support.

  • US Natgas JUL 24 up 7.7% at 3.13$/mmbtu
  • US Natgas DEC 24 up 4.4% at 3.93$/mmbtu
  • US domestic natural gas production remains low at 99.8bcf/d yesterday according to Bloomberg.
  • Domestic natural gas demand remains unchanged above normal at 68.7bcf/d according to Bloomberg.
  • The NOAA 6-14 day forecast is unchanged on the day with above normal temperatures throughout most of the US except for the far north west.
  • US terminal feedgas flows are today at 12.73bcf/d according to Bloomberg with supplies to Sabine Pass down to 4.05bcf/d.
  • Kinder Morgan’s El Paso Natural Gas has experienced a fire at the Parker City Gate Delivery, requiring a line to be shut at Havasu Crossover in Arizona.
  • US Henry Hub spot prices for 2024 have been revised up by 26 cents/MMBtu to $2.46/MMBtu, according to the EIA in its June Short Term Energy Outlook.
  • Europe’s market share of global LNG deliveries has fallen to the lowest level since 2021, according to Platts.
  • The total estimated quantity of LNG on tankers that have not unloaded for at least 20 days rose by 21% over the last week to 4.28m mt as of June 9.
  • Global LNG imports fell 7% in the week to June 9 to 6.54m mt: BNEF.
  • The combined Russian pipeline natural gas and LNG volume in May 24 exceeded US supply into Europe for the first time in 21 months: ICIS.
  • TTF and JKM prices have seen a slight recovery since Mar 2024 amid higher coal for gas switching levels (CSP): Timera Energy.
  • Mexico’s Proven natural gas reserves rose to 12.297 Tcf, up from 11.029 Tcf.