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Excess Supply Keep US Gas Trending Lower

NATGAS

US gas continues to fall since the fire at Freeport LNG.

  • The approximately 16% drop in LNG exports has pushed prices down from record levels at 9.6$/mmbtu to levels last seen in mid April. Domestic supply has been boosted with lower exports. US Natgas down 3.1% today to 6.73$/mmbtu.
  • Deliveries to the remaining LNG export terminals is strong today at 11.21bcf driven by increases to Sabine Pass and Calcasieo Pass terminals.
  • Domestic demand has eased but above normal temperatures remain in the South and Midwest therefore keeping demand strong. The estimation is for 67.39bcf today compared to the peak of 73.15bcf late week.
  • Lower 48 dry gas production is estimated slightly lower today at 95.30bcf.
Energy BulletsCommoditiesUS
Energy BulletsCommoditiesUS

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