NATGAS: Henry Hub Erases Earlier Gains
Apr-19 16:41By: Lawrence Toye
Henry Hub has erased its earlier gains to be back into losses. Front month has bounced between $1.715/MMBtu and $1.804/MMBtu during the day. Pressure persists amid strong US storage surpluses.
- US Natgas MAY 24 down 0.8% at 1.74$/mmbtu
- US Natgas OCT 24 unchanged at 2.53$/mmbtu
- The EIA weekly gas inventories for the week ending Apr. 12 showed an injection of 50bcf compared to the seasonal normal injection of 51bcf.
- US storage inventories continue to hold a strong surplus with total stocks at 2,333bcf compared to the previous five-year average of 1,711bcf.
- Feedgas flow to US LNG export terminals are currently estimated at 10.92bcf/d.
- US domestic natural gas production was up slightly on the day to 98.7bcf/d yesterday
- Natural gas demand increased slightly again to 70.6bcf/d today according to Bloomberg estimates.
