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US Henry Hub Weighs Cooling Temperatures Against High Production

NATGAS

US Henry Hub is edging higher supported by cooler temperatures towards the end of the month but with upside limited by high domestic production.

    • US Natgas NOV 23 up 1.1% at 2.96$/mmbtu
    • US Natgas APR 24 up 1% at 3.06$/mmbtu
    • US Natgas OCT 24 up 0.4% at 3.42$/mmbtu
  • Domestic natural gas production was yesterday still up almost at the record high from the previous day at 104.05bcf/d compared to output of around 101bcf/d at the start of October.
  • US natural gas demand is estimated lower today and back just below the five year average at 68.0bcf/d today according to Bloomberg. The latest forecast is relatively unchanged with warm weather in the coming week giving way to below normal temperatures across most country in the 6-10 day period except for the East Coast.
  • Feedgas deliveries to US LNG export facilities are similar to yesterday at 13.8bcf/d today according to Bloomberg compared to an average of 13.5bcf/d so far this month and 11.4bcf/d in Oct 2022.
  • Export flows to Mexico are today estimated at 6.5bcf/d.

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