Free Trial

Natural Gas End of Day Summary: Henry Hub Set for Gains

NATGAS

Henry Hub is headed towards US close trading higher, supported by optimism around a resumption in LNG feedgas flows to Freeport LNG.

  • US Natgas MAY 24 up 1.5% at 1.78$/mmbtu
  • US Natgas OCT 24 up 1.5% at 2.57$/mmbtu
  • Feedgas flow to US LNG export terminals are estimated back up to 12.0bcf/d today according to Bloomberg from a low of 9.2bcf/d on April 20.
  • Freeport LNG feedgas flows are today estimated back up to 0.62bcf/d and the first LNG tanker in 11 days arrived at the terminal on Saturday according to LSEG.
  • US domestic natural gas production was steady at 99.15bcf/d yesterday according to Bloomberg compared an average of 98.9bcf/d in the previous week.
  • Natural gas demand has been holding above the previous five year average since April 18 and today steady at 71.3bcf/d according to Bloomberg.
  • The NOAA 6-14 day outlook is relatively unchanged with slightly below normal expected on the west coast but above normal temperatures expected throughout the remainder of the country.
  • Gas storage in ‘Europe Perimeter’ (Northwest Europe, Italy and Austria) is expected to hit ‘tank tops’ at the end of September, two weeks earlier than previously forecast: BNEF.
  • TotalEnergies has signed a 10-year sale and purchase agreement with Oman LNG to offtake 0.8mtpa of LNG starting 2025.
  • Egypt exported the first LNG cargo since mid-March despite rising concern for a lack of domestic supplies into the hot summer period.
233 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Henry Hub is headed towards US close trading higher, supported by optimism around a resumption in LNG feedgas flows to Freeport LNG.

  • US Natgas MAY 24 up 1.5% at 1.78$/mmbtu
  • US Natgas OCT 24 up 1.5% at 2.57$/mmbtu
  • Feedgas flow to US LNG export terminals are estimated back up to 12.0bcf/d today according to Bloomberg from a low of 9.2bcf/d on April 20.
  • Freeport LNG feedgas flows are today estimated back up to 0.62bcf/d and the first LNG tanker in 11 days arrived at the terminal on Saturday according to LSEG.
  • US domestic natural gas production was steady at 99.15bcf/d yesterday according to Bloomberg compared an average of 98.9bcf/d in the previous week.
  • Natural gas demand has been holding above the previous five year average since April 18 and today steady at 71.3bcf/d according to Bloomberg.
  • The NOAA 6-14 day outlook is relatively unchanged with slightly below normal expected on the west coast but above normal temperatures expected throughout the remainder of the country.
  • Gas storage in ‘Europe Perimeter’ (Northwest Europe, Italy and Austria) is expected to hit ‘tank tops’ at the end of September, two weeks earlier than previously forecast: BNEF.
  • TotalEnergies has signed a 10-year sale and purchase agreement with Oman LNG to offtake 0.8mtpa of LNG starting 2025.
  • Egypt exported the first LNG cargo since mid-March despite rising concern for a lack of domestic supplies into the hot summer period.