© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI: FED'S POWELL STILL SEES POSSIBLE PATH TO SOFT LANDING

MNI: POWELL: FED PREPARED TO TIGHTEN FURTHER IF APPROPRIATE

FED'S GOOLSBEE: 'YOU CAN'T BACK OUT NOW' ON INFLATION FIGHT

MNI: BAKER HUGHES US RIG COUNT 625; OIL RIGS 505; GAS RIGS 116

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

EZ/UK Bond Supply Calendar: BOE Long APF Operation on Monday

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

MNI BRIEF:Macklem-Fiscal Policy Turning Unhelpful On CPI Fight

MNI BRIEF: Stabilizing Prices Helps BOC Turn Neutral-Freeland

Natural Gas End of Day Summary: Henry Hub Slides

NATURAL GAS
Bullet Energy Bullets Homepage Commodities

Henry Hub front month has fallen to the lowest level since 23 October, extending last week’s decline, driven by high stock levels, below normal demand and high production levels.

    • US Natgas DEC 23 down -2.6% at 2.88$/mmbtu
    • US Natgas MAY 24 down -2.3% at 2.82$/mmbtu
  • Some US weekly data release dates are adjusted this week due to the Thanksgiving holiday on Thursday. The EIA gas inventory report will be published on 22 November.
  • Managed money net long positions on seven US Henry Hub contracts last week fell to a six week low after reaching a peak for the year on Nov 3 according to Commitments of Traders data released on Friday.
  • Russia’s Gazprom and Venezuela’s PDVSA are discussing co-operation in new gas projects in Venezuela according to Russian news agency RIA.
  • Venezuela is nearing to approve a license for Shell and the National Gas Company of Trinidad and Tobago to develop the Dragon gas field, which would add initial volumes of 300mc/d for Trinidad’s LNG production from 2026, sources told Reuters.
  • Domestic natural gas demand has increased from late last week but is still below the five year average at 81.4bcf/d according to Bloomberg. Temperatures are expected to cool later this week with below normal temperatures forecast across most of the country in the 6-14 day period to help support demand.
  • Domestic natural gas production is maintaining just below the record high seen earlier this month with today estimated at 105.9bcf/d according to Bloomberg and compared to around 100bcf/d this time last year.
  • Feedgas flows to US LNG export terminals are today at 14.43bcf/d according to Bloomberg compared to the average so far in November of 14.2bcf/d.
  • US LNG exports are currently more profitable to Asia in January 2024, February 2024 and March 2024 according to BNEF.
296 words

To read the full story

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 front month has fallen to the lowest level since 23 October, extending last week’s decline, driven by high stock levels, below normal demand and high production levels.

    • US Natgas DEC 23 down -2.6% at 2.88$/mmbtu
    • US Natgas MAY 24 down -2.3% at 2.82$/mmbtu
  • Some US weekly data release dates are adjusted this week due to the Thanksgiving holiday on Thursday. The EIA gas inventory report will be published on 22 November.
  • Managed money net long positions on seven US Henry Hub contracts last week fell to a six week low after reaching a peak for the year on Nov 3 according to Commitments of Traders data released on Friday.
  • Russia’s Gazprom and Venezuela’s PDVSA are discussing co-operation in new gas projects in Venezuela according to Russian news agency RIA.
  • Venezuela is nearing to approve a license for Shell and the National Gas Company of Trinidad and Tobago to develop the Dragon gas field, which would add initial volumes of 300mc/d for Trinidad’s LNG production from 2026, sources told Reuters.
  • Domestic natural gas demand has increased from late last week but is still below the five year average at 81.4bcf/d according to Bloomberg. Temperatures are expected to cool later this week with below normal temperatures forecast across most of the country in the 6-14 day period to help support demand.
  • Domestic natural gas production is maintaining just below the record high seen earlier this month with today estimated at 105.9bcf/d according to Bloomberg and compared to around 100bcf/d this time last year.
  • Feedgas flows to US LNG export terminals are today at 14.43bcf/d according to Bloomberg compared to the average so far in November of 14.2bcf/d.
  • US LNG exports are currently more profitable to Asia in January 2024, February 2024 and March 2024 according to BNEF.