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NATGAS: Natural Gas End of Day Summary: Henry Hub Surges on Week

NATGAS
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UPDATE - Amends Text 

Henry Hub has resumed its rally and climbed 17% this week. Support comes as colder weather hampers production and boosts heating demand.

  • US Natgas MAR 25 up 2.5% at 4.25$/mmbtu
  • US Natgas APR 25 up 1.3% at 4.14$/mmbtu
  • The US gas rig count was down 1 on the week to 99, according to Baker Hughes. This is down 20 rigs, or 16.8% on the year
  • Lower 48 natural gas demand is down slightly today but still well above normal at 122.5bcf/d, Bloomberg said.
  • Current cold temperatures in Lower 48 are expected to rise above normal over the weekend.
  • US domestic natural gas production is still curtailed by cold weather at 102.0cf/d today, BNEF shows.
  • US LNG export terminal feedgas has seen a steady rise this month, reaching a record high of 16.00bcf/d today, according to Bloomberg.
  • Bloomberg data showed power supply to Freeport LNG in Texas is dropping, indicating a potential reduction in output.
  • The number of US LNG export cargoes edged lower but remained high at 29 in the week to Feb. 19 compared to 30 the week prior, EIA said. BNEF shows US LNG export terminal feedgas reaching a record high of 16.00bcf/d today.
  • Natural Gas Pipeline Company of America reported a force majeure at its 343-compressor station in Liberty County, Texas.
  • Global trade flows are already shifting following China’s new 15% tariff on US LNG, according to Kpler.
  • South Korea plans to reduce LNG's share in its power mix from 28% to 10.6% by 2038, Platts said.
  • Colombia’s Ecopetrol plans to develop two new gas import facilities starting next year to make up for a domestic shortfall.
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UPDATE - Amends Text 

Henry Hub has resumed its rally and climbed 17% this week. Support comes as colder weather hampers production and boosts heating demand.

  • US Natgas MAR 25 up 2.5% at 4.25$/mmbtu
  • US Natgas APR 25 up 1.3% at 4.14$/mmbtu
  • The US gas rig count was down 1 on the week to 99, according to Baker Hughes. This is down 20 rigs, or 16.8% on the year
  • Lower 48 natural gas demand is down slightly today but still well above normal at 122.5bcf/d, Bloomberg said.
  • Current cold temperatures in Lower 48 are expected to rise above normal over the weekend.
  • US domestic natural gas production is still curtailed by cold weather at 102.0cf/d today, BNEF shows.
  • US LNG export terminal feedgas has seen a steady rise this month, reaching a record high of 16.00bcf/d today, according to Bloomberg.
  • Bloomberg data showed power supply to Freeport LNG in Texas is dropping, indicating a potential reduction in output.
  • The number of US LNG export cargoes edged lower but remained high at 29 in the week to Feb. 19 compared to 30 the week prior, EIA said. BNEF shows US LNG export terminal feedgas reaching a record high of 16.00bcf/d today.
  • Natural Gas Pipeline Company of America reported a force majeure at its 343-compressor station in Liberty County, Texas.
  • Global trade flows are already shifting following China’s new 15% tariff on US LNG, according to Kpler.
  • South Korea plans to reduce LNG's share in its power mix from 28% to 10.6% by 2038, Platts said.
  • Colombia’s Ecopetrol plans to develop two new gas import facilities starting next year to make up for a domestic shortfall.