Natural Gas End of Day Summary: Henry Hub Rises

Henry Hub is headed for US close with robust gains on the day. Two-month high LNG feedgas export flows and a likely rise in upcoming cooling demand across the US will be supportive.

• US Natgas JUN 24 up 2.6% at 2.59$/mmbtu
• US Natgas NOV 24 up 1.4% at 3.23$/mmbtu
• US domestic natural gas production was yesterday stronger at 101.3bcf/d according to Bloomberg.
• US terminal feedgas flows are today estimated at 13.39bcf/d according to Bloomberg, the highest daily flow since mid-March.
• The latest 6–14-day NOAA forecast shows above normal temperatures expected on the Gulf Coast and in western areas but near or just slightly below normal in parts of the East coast and Midwest.
• Domestic natural gas demand is down today at 64.862bcf/d according to Bloomberg.
• Export flows to Mexico are up slightly today at around 6.768 bcf/d and are slightly above the 20-day moving average of 6.743 bcf/d.
• European gas storage was 69% full on May 26 vs the 5-yr seasonal norm of 56% for this time of year according to GIE data.
• The EU adopted a law on Monday to monitor methane emissions from gas imports from 2030.
• Brunei LNG is working on restarting its onshore compressor plants following an outage on May 20, the company said Tuesday.
• Egyptian fertilizer production has slipped due to constrained natural gas supply for the country at present according to ICIS.
• Eni's Congo LNG project looks to be loading its second ever cargo with the Gaslog Savannah back in location at the west African project according to ICIS vessel tracking.