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High demand maintains US gas bull trend

NATGAS

US Gas for Jun22 trading up 4.15$ today to 8.285$/mmbtu

  • Hot temperatures in the south are fuelling domestic power demand.
  • Export demand remains high with LNG exports still at the top of the 5-year range at 224k metric tonnes
  • Seasonal pipeline maintenance is limiting production and therefore adding to the bullish sentiment. Lower 48 dry gas production has dipped from approximately 96m at the start of the month to 93.4bcf, down 2.8% on the week.

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