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US Henry Hub Drifts Lower but Holding Within Weekly Range

NATGAS

US front month Henry Hub is trading lower today but still holding within a 2.67$/mmbtu to 2.78$/mmbtu range from the last week with strong cooling demand due to warm weather set against steady supplies and with a dip in LNG export flows.

    • US Natgas AUG 23 down -1.4% at 2.69$/mmbtu
  • US production has dipped slightly this week back to 100.1bcf/d yesterday after seeing flows averaging around 101bcf/d so far this month.
  • Delivery flows to the US LNG export terminals are down at 12.56bcf/d today according to Bloomberg with low flows to Cove Point offsetting a recovery in Freeport supplies.
  • Lower 48 dry gas consumption increases to 77.4bcf/d according to Bloomberg and up towards recent highs as warm weather continues boost cooling demand and keep levels above the five year average. The latest NOAA forecast is relatively unchanged from yesterday with warm weather expected in with most regions except the fat north east in the coming two weeks.
  • Export flows to Mexico remain high up at 7.0bcf/d today.

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