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US Natgas Steady As Warm Weather Forecast to Spread Across US

NATGAS

US Henry Hub is holding steady today after falling yesterday on the back of a warmer than normal weather forecast limiting early winter heating demand for Texas.

    • US Natgas NOV 23 up 0.1% at 2.84$/mmbtu
    • US Natgas APR 24 down -0.1% at 2.95$/mmbtu
    • US Natgas OCT 24 down -0.4% at 3.32$/mmbtu
  • Domestic natural gas demand is edging higher in line with the seasonal trend with today estimated at 69.3bcf/d according to Bloomberg. The latest NOAA outlook still shows above normal temperatures in the west in the 6-10 day period spreading across most of the country in the 8-14 day period. The far East Coast is forecast to warm from below normal this weekend back to near normal.
  • Natural gas deliveries to US LNG export terminals are today stable at 12.66bcf/d according to Bloomberg but still curtailed by about 0.75bcf/d due to the Cove Point maintenance possibly for another couple of weeks.
  • US domestic natural gas production was yesterday estimated at 101.0bf/d according to Bloomberg compared to the average of 101.3bcf/d in the previous week.
  • Export flows to Mexico are unchanged today at 7.0bcf/d.

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