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Healthy Supplies Push US Natgas to the Lowest Since Apr 2021

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Front month US Natgas extends the decline to the lowest since April 2021 as healthy supplies weigh on prices despite a mixed weather forecast.

    • US Natgas FEB 23 down -7.1% at 2.85$/mmbtu
  • The update weekly EIA inventories data due later today is expected to show a smaller than normal draw in stocks. The expectation is for a draw of -84bcf following on from the draw of -82bcf last week. The 5-year average for this time of year is -190bcf.
  • Below normal temperatures are expected across western and central areas in the 6-10 day forecast but are trending back towards in the 8-14 day period. Domestic demand is today estimated near normal at 98.7bcf/d.
  • Production levels are well above average with yesterday at 100.9bcf/d although down from a high of 102.3bcf/d on 18 Jan.
  • Natural gas deliveries to US LNG export terminals are today expected at similar levels to yesterday at 12.8bcf/d while exports to Mexico are steady at 6.6bcf/d.
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Front month US Natgas extends the decline to the lowest since April 2021 as healthy supplies weigh on prices despite a mixed weather forecast.

    • US Natgas FEB 23 down -7.1% at 2.85$/mmbtu
  • The update weekly EIA inventories data due later today is expected to show a smaller than normal draw in stocks. The expectation is for a draw of -84bcf following on from the draw of -82bcf last week. The 5-year average for this time of year is -190bcf.
  • Below normal temperatures are expected across western and central areas in the 6-10 day forecast but are trending back towards in the 8-14 day period. Domestic demand is today estimated near normal at 98.7bcf/d.
  • Production levels are well above average with yesterday at 100.9bcf/d although down from a high of 102.3bcf/d on 18 Jan.
  • Natural gas deliveries to US LNG export terminals are today expected at similar levels to yesterday at 12.8bcf/d while exports to Mexico are steady at 6.6bcf/d.