Natural Gas End of Day Summary: Henry Hub Rises

Henry Hub has ended the day trading higher, bolstered by an expectation of rising cooling demand.

• US Natgas JUL 24 up 3.9% at 2.81$/mmbtu
• US Natgas DEC 24 up 1.8% at 3.79$/mmbtu
• US cooling demand for the week ending June 29 is forecast to be 24 cooling degree days (CDD) above the long-term normal: Bloomberg.
• US domestic natural gas production is today at 101.0bcf/d: Bloomberg.
• US natural gas storage is forecast to have risen in the week to June 21 by 32 bcf to 55 bcf, according to a Reuters poll, below the five-year average of 86 bcf.
• US LNG export terminal feedgas flows are today at 12.84bcf/d, according to Bloomberg,
• Domestic natural gas demand remains well above normal with today estimated at 76.4bcf/d according to Bloomberg.
• US natural gas storage is on track to end the summer injection period at a four-year high of 3.919 tcf on Oct. 31, analysts told Reuters.
• Chevron has restarted full LNG production and domestic gas supplies at the Wheatstone gas facility, according to a statement on Jun 23.
• A shortage of skilled workers and inflation from strong wage growth on the USGC could push US LNG projects to be delayed, according to Reuters.
• EU gas market volatility is expected to persist at least until 2026-27, according to Cristian Signoretto, president of Eurogas, cited by Montel.
• Asian LNG imports are expected to dip slightly m/m in June to 23.18m mt: Reuters
• Mexico is facing challenges from regulatory issues and delays as it aims to become a major exporter of natural gas: Energy Intelligence.
• The laden Maran Leto LNG carrier is approaching Colombia’s SPEC LNG terminal in Cartagena, according to Platts.