Natural Gas End of Day Summary: Henry Hub Weakens

Henry Hub is losing ground today although remains in the $2.1/mmbtu and $2.3/mmbtu range seen since Aug. 9.

• US Natgas SEP 24 down 1% at 2.18$/mmbtu
• US Natgas FEB 25 down 0.1% at 3.35$/mmbtu
• US natural gas inventories likely increased by 28 bcf in the week to Aug. 16, according to a survey of 10 analysts, brokers, and traders by the WSJ, below the five-year average for the time of year.
• Although temperatures are rising in the coming days, there are expectations that cooling demand will begin to abate which will weigh on gas-fired power.
• Domestic natural gas demand has drifted down slightly closer to normal at 73.75bcf/d today, Bloomberg said.
• Temperatures across the lower 48 are expected to rise back above normal in the coming week.
• US domestic natural gas production was yesterday slightly lower at 101.1bcf/d, according to Bloomberg.
• US LNG export terminal feedgas flows are up to 13.14bcf/d today, according to Bloomberg.
• Large crude oil producers in Q2 sold their natural gas output at the lowest prices in years due to pipeline bottlenecks in the Permian basin, Argus said.
• European gas stores have reached the EU pre-winter target at 90.02% full on Aug 19 according to GIE.
• The return of France's Montoir LNG terminal from maintenance has been delayed once again until Aug. 23.
• Regasification utilisation rates in Europe hit a low of 31% in July., Platts said.
• Two LNG vessels appear to be circling off Europe, but it is too early to call them a winter storage play according to ICIS.
• High spot LNG prices and ample pipeline supply have dampened early winter LNG procurement by Chinese importers, despite declining stocks at some terminals, Platts said.
• MNI Gas Weekly: Easing Concern over Sudzha Flows: https://roar-assets-auto.rbl.ms/files/66073/MNI%20Gas%20Weekly%20-%20Easing%20Concern%20over%20Sudzha%20Flows.pdf