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US Henry Hub Falls on Cooler Weather Forecast

NATGAS

US Henry Hub falls with Jul23 down from a peak of over 2.8$/mmbtu on 19 May to around 2.35$/mmbtu. Cool weather forecasts in the second week of June could ease pressure on cooling demand while strong production continues, and storage holds above normal.

    • US Natgas JUL 23 down -2.6% at 2.35$/mmbtu
  • The latest US weather forecast shows above normal temperatures in the north easing after the first week to at or below normal temperatures across much of the country in the 8-14 day period. Temperatures in southern regions mostly remain cool throughout the two week forecast.
  • Domestic demand is relatively unchanged from last week at 63.4bcf/d today according to Bloomberg estimates and remains just above the five year average.
  • Domestic production is today estimated at 101.2bcf/d compared to around 97.6bcf/d this time last year.
  • Delivery flows to the US LNG export terminals are today estimated at 13.3bcf/d according to Bloomberg after dipping as low as around 12bcf/d in mid May.
  • Export flows to Mexico are today estimated at 6.5bcf/d.
Energy BulletsCommoditiesUS
Energy BulletsCommoditiesUS

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