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NATGAS: Natural Gas End of Day Summary: Henry Hub Lowest Since Dec. 18

NATGAS
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Henry Hub is extending its earlier losses following EIA data showing a slightly below expectation stock withdrawal, heading for its lowest since Dec. 18. Forecasts for milder weather than expected is also adding pressure.

  • US Natgas FEB 25 down 8.4% at 3.35$/mmbtu
  • US Natgas MAR 25 down 6.3% at 2.95$/mmbtu
  • The EIA weekly gas inventories for the week to Dec. 27 showed a withdrawal of 116 bcf. The seasonal five-year average shows a net withdrawal of around 104 bcf.
  • Total stocks are at 3,413 bcf compared to the previous five-year average of 3,259 bcf.
  • The US total gas rig count was up 1 on the week at 103 rigs, according to Baker Hughes. This is down 15 rigs on the year.
  • The NOAA 6-14 forecast still shows below normal temperatures in the Midwest and East Coast, but above normal in the Mountain and Pacific regions. However, the colder weather is abating towards the end of that period.
  • Lower 48 natural gas demand has risen to 104.1 bcf/d today, the highest since Dec. 22 according to Bloomberg.
  • US LNG export terminal feedgas is strong at 14.71bcf/d today, a new record level according to BNEF data.   
  • US domestic natural gas production was estimated at 104.9 bcf/d yesterday, according to Bloomberg.
  • US Front Month LNG Arb remains closed as TTF prices rally Spark Commodities reports.
  • The front-month JKM-NWE spread in the LNG paper market turned negative as Europe seeks more cargoes following the Russia-Ukraine transit deal expiration, Platts said.
  • A drilling ship will arrive in Egypt this month as operator ENI looks to work on increasing output from the giant Zohr gas field.
  • Brazil’s Eneva-operated Sergipe LNG terminal has resumed operations, a source told Platts.
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Henry Hub is extending its earlier losses following EIA data showing a slightly below expectation stock withdrawal, heading for its lowest since Dec. 18. Forecasts for milder weather than expected is also adding pressure.

  • US Natgas FEB 25 down 8.4% at 3.35$/mmbtu
  • US Natgas MAR 25 down 6.3% at 2.95$/mmbtu
  • The EIA weekly gas inventories for the week to Dec. 27 showed a withdrawal of 116 bcf. The seasonal five-year average shows a net withdrawal of around 104 bcf.
  • Total stocks are at 3,413 bcf compared to the previous five-year average of 3,259 bcf.
  • The US total gas rig count was up 1 on the week at 103 rigs, according to Baker Hughes. This is down 15 rigs on the year.
  • The NOAA 6-14 forecast still shows below normal temperatures in the Midwest and East Coast, but above normal in the Mountain and Pacific regions. However, the colder weather is abating towards the end of that period.
  • Lower 48 natural gas demand has risen to 104.1 bcf/d today, the highest since Dec. 22 according to Bloomberg.
  • US LNG export terminal feedgas is strong at 14.71bcf/d today, a new record level according to BNEF data.   
  • US domestic natural gas production was estimated at 104.9 bcf/d yesterday, according to Bloomberg.
  • US Front Month LNG Arb remains closed as TTF prices rally Spark Commodities reports.
  • The front-month JKM-NWE spread in the LNG paper market turned negative as Europe seeks more cargoes following the Russia-Ukraine transit deal expiration, Platts said.
  • A drilling ship will arrive in Egypt this month as operator ENI looks to work on increasing output from the giant Zohr gas field.
  • Brazil’s Eneva-operated Sergipe LNG terminal has resumed operations, a source told Platts.