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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
NATGAS
US natural gas prices are forecast to rise to slightly above 3$/mmbtu in Q3 2023 due to increased demand and flat production according to the EIA Short Term Energy Outlook released yesterday.
- Henry Hub prices in Q2 2023 will remain unchanged from Q1 to average $2.65/MMBtu after reduced demand in early 2023 due to warm temperatures.
- US dry natural gas production is forecast up 3% from 2022 at 100.87 bcf/day in 2023 compared to 100.67bcf/d forecast last month, and at 101.58bcf/d in 2024 compared with 101.69bcf/d projected last month. Output is expected to grow annually in 2024 at an average rate of 0.71bcf/d compared to the previous forecast of 1.02bcf/d.
- Natural gas inventories were estimated at 1,856bcf at the end of the withdrawal season and 19% above the five-year average. Inventories are forecast to rise by 1,985bcf for April through October.
- The report suggests that natural gas prices will also depend on temperatures throughout the summer with the share of total power generation supplied by natural gas remaining at about 39%.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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