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US Henry Hub Rallies Ahead of EIA Storage Data

NATGAS

US Henry Hub continues to see gains today after a rally from a low of 2.82$/mmbtu on 3 Oct ahead of the updated EIA storage inventories later today.

    • US Natgas NOV 23 up 2.1% at 3.02$/mmbtu
    • US Natgas APR 24 up 0.9% at 3.06$/mmbtu
    • US Natgas OCT 24 up 0.5% at 3.4$/mmbtu
  • The latest EIA weekly gas inventories for the week ending 29 Sep will be released this afternoon at 10:30ET (15:30BST). The expectation is for a build of +94bcf according to a Bloomberg survey compared to a build of +90bcf last week and the seasonal normal of +101bcf.
  • Domestic natural gas demand has fallen back to near seasonal normal levels at 66.2bcf/d today according to Bloomberg. Below normal temperatures on the East Coast are set to move back towards normal early next week as warmer weather spreads across most of the country in the 8-14 day period of the forecast according to NOAA.
  • US domestic natural gas production was yesterday estimated at 100.9bcf/d according to Bloomberg in line with the volumes seen so far this month but below the Sep average of 101.5bcf/d.
  • Natural gas deliveries to US LNG export terminals are today stable at 12.61bcf/d according to Bloomberg with flows still curtailed by Cove Point maintenance.
  • Export flows to Mexico are unchanged today at 7.1bcf/d.
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