November 23, 2022 13:05 GMT
US Natgas trading higher as the forecast of colder weather could boost domestic demand expectations.
- US Natgas DEC 22 up 6.3% at 7.21$/mmbtu
- Below normal temperatures across the central and west of the US are forecast from next week. Temperatures in the south and east are expected to stay warmer than normal into the start of December with the potential for a dip at the end of the two week outlook. Domestic demand is today estimated near normal at 82.2bcf/d.
- Deliveries to US LNG export terminals are today stable at 12.1bcf/d while exports to Mexico are slightly down to 6.0bcf/d.
- US natural gas production is estimated at 101.3bcf/d, a level around which output has been hovering since the end of September.