Henry Hub is on track for losses today, reversing an earlier intraday spike. Prior support came from steady LNG and Mexico export flows. However, weaker demand outlooks have added some downside pressure.

• US Natgas OCT 24 down 2.7% at 2.14$/mmbtu
• US Natgas MAR 25 down 0.4% at 2.9$/mmbtu
• Surveys of EIA US natural gas storage change: +26 (Bloomberg), +29 (WSJ), +34 (Reuters).
• US LNG export terminal feedgas flows are estimated at 12.95bcf/d today, according to Bloomberg in line with supply seen this time last year.
• US domestic natural gas production held steady at 101.6bcf/d, Bloomberg said.
• Domestic natural gas demand is 71.0bcf/d today, Bloomberg said.
• The lower 48 temperature forecast shows above normal expected in western and central areas in the coming two weeks.
• North Asian LNG demand will reach 113.9m mt over winter 2024-25, up 4.7m tons or 4.3% year-on-year, BNEF said.
• The Power of Siberia pipeline from Russia to China will reach full capacity on Jan. 1, 2025, according to Gazprom.
• LNG stockpiles held by Japanese utilities fell 11.2% w/w to 1.83m mt.
• Australia's Santos has signed a mid-term LNG supply deal with Glencore for 19 cargoes totalling 0.5m mtpa over a three years plus one quarter.
• A particularly harsh winter could cause a European TTF gas price surge up to €55/MWh or higher according to SEB.
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