May 01, 2023 11:52 GMT
US Natgas Eases Lower After Volatile Trading on Friday
US Henry Hub easing back from gains seen late last week after volatility on Friday when service was restored at the Corinth Compressor Station in Mississippi following news of a fire earlier in the day. Recent upside moves have been limited by healthy production and high seasonal storage levels and a halt to the gradual increasing trend in LNG exports.
- US Natgas JUN 23 down -1% at 2.39$/mmbtu
- Deliveries to US LNG export terminals are today estimated at 13.46bcf/d according to Bloomberg compared to the average of 14.02bcf/d in April and compared to 13.13bcf/d in March.
- The US weather forecast shows cold in the west coast region, above normal in central areas and cold in the east easing throughout the two week forecast. Domestic demand is currently above normal at 71.5bcf/d compared to the seasonal normal of around 63bcf/d.
- Natural gas production was estimated around 101.6bcf/d over the weekend and just below the high of 102.1bcf/d seen on 23 April according to Bloomberg.
- Exports to Mexico are slightly lower at 5.5bcf/d today.