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NATGAS: Volatile Henry Hub Prices Amid Cold Weather

NATGAS
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Henry Hub is rebounding amid volatile trading after a pull back to $3.5/mmbtu earlier today. Prices remain supported by current cold weather, curtailed production and strong LNG export demand.

  • Lower 48 natural gas demand is further above the previous five year average up to 123.7bcf/d today, according to Bloomberg. The Lower 48 average temperatures are expected to remain below normal through mid Jan although could recover towards the end of the two week period. The NOAA 6-14 forecast shows below normal across most of the US with the biggest anomalies in the Lower Atlantic and Gulf Coast regions.
  • US domestic natural gas production is estimated down at 103.0bcf/d yesterday, according to Bloomberg.Around 25-30 bcf of production is likely to be lost across the US due to colder weather in January, most of that will be in Appalachia, Energy Aspects’ Amrita Sen told CNBC.
  • US LNG export terminal feedgas is holding just below the record high seen yesterday at 14.54bcf/d today, according to Bloomberg.
  • Export flows to Mexico have risen to 6.19bcf/d today, according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures was 625k on Jan. 6.
    • US Natgas FEB 25 down 1.7% at 3.61$/mmbtu
    • US Natgas MAR 25 down 0.4% at 3.1$/mmbtu
    • US Natgas JAN 26 down 1.4% at 4.55$/mmbtu
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Henry Hub is rebounding amid volatile trading after a pull back to $3.5/mmbtu earlier today. Prices remain supported by current cold weather, curtailed production and strong LNG export demand.

  • Lower 48 natural gas demand is further above the previous five year average up to 123.7bcf/d today, according to Bloomberg. The Lower 48 average temperatures are expected to remain below normal through mid Jan although could recover towards the end of the two week period. The NOAA 6-14 forecast shows below normal across most of the US with the biggest anomalies in the Lower Atlantic and Gulf Coast regions.
  • US domestic natural gas production is estimated down at 103.0bcf/d yesterday, according to Bloomberg.Around 25-30 bcf of production is likely to be lost across the US due to colder weather in January, most of that will be in Appalachia, Energy Aspects’ Amrita Sen told CNBC.
  • US LNG export terminal feedgas is holding just below the record high seen yesterday at 14.54bcf/d today, according to Bloomberg.
  • Export flows to Mexico have risen to 6.19bcf/d today, according to Bloomberg.
  • Nymex Henry Hub daily aggregate traded futures was 625k on Jan. 6.
    • US Natgas FEB 25 down 1.7% at 3.61$/mmbtu
    • US Natgas MAR 25 down 0.4% at 3.1$/mmbtu
    • US Natgas JAN 26 down 1.4% at 4.55$/mmbtu