NATGAS: Natural Gas End of Day: Henry Hub Reverses Previous Day’s Gains

Henry Hub has extended its losses on the day to completely reverse yesterday’s storage withdrawal related gains. Rising temperatures and lower residential demand are adding pressure.

• US Natgas JAN 25 down 5.2% at 3.27$/mmbtu
• US Natgas FEB 25 down 3.5% at 3.09$/mmbtu
• EBW Analytics sees possibility of 19 Bcf/d demand loss next week though Christmas week looks colder. Jan gas down 3.1% at $3.35/mmBtu.
• The EIA weekly gas inventories showed a larger than expected withdrawal for the week ending Dec. 6 at 190bcf.
• US natural gas storage likely saw an above-average draw of 119 bcf in the week to Dedc. 13, according to a Reuters survey.
• US LNG export terminal feedgas supply is estimated near the highest since January at 14.32bcf/d today, BNEF said.
• Lower 48 natural gas demand edges lower to 106.3bcf/d today but remain above normal, according to Bloomberg.
• The NOAA forecast has cooled slightly with above normal still in the west but near normal spreading further from the west in the 6–10-day period. The 8–14-day forecast shows below normal on the East Coast.
• The number of US LNG export cargoes rose to 27 in the week to Dec. 11 from 26 the week prior, according to the EIA.
• The Russian envoy to Austria said OMV’s decision to terminate a gas supply deal with Russia's Gazprom will have consequences, according to Reuters citing RIA news agency.
• Plaquemines LNG was on track to pull enough feedgas Dec. 13 to produce its first LNG cargo, according to Reuters.
• Korea Gas’ LNG sales in November fell 13.9% from a year earlier, which marks the sharpest decline in a year due to weak demand for heating and power production, Platts said.