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US Henry Hub Retreats

NATURAL GAS

US Henry Hub front month had eased back today on lower demand despite an upward revision in temperatures to above the seasonal norm for all of the US for the coming two weeks.

  • US Natgas AUG 23 down -0.9% at 2.61$/mmbtu
  • The US production is relatively stable at 100.47bcf/d today according to Bloomberg having fallen from a high of 102.53bcf/d on 7 Jul.
  • Delivery flows to the US LNG export terminals have risen today to 12.74bcf/d, above the 30-day moving average of 12.29bcf/d, amid an increase in flows to Sabine Pass LNG to 4.31bcf/d, compared with 3.73bcf/d yesterday, amid a short unplanned outage.
  • Domestic demand has trended higher in recent days amid an ongoing heat wave in the US with demand rising above the five-year average range. Lower 48 dry gas consumption came off today at 74.26bcf/d according to Bloomberg. The latest two-week weather forecast for the US has been revised up with all of the US seeing temperatures above the seasonal norm, spurring demand for cooling.
  • Export flows to Mexico have been come off from highs earlier this month of 7.49bcf/d on 6 July to 6.9bcf/d today.

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