July 29, 2022 12:08 GMT
US Natgas pushing higher with ongoing hot temperatures forecasts although easing European TTF prices are taking some pressure off.
- US Natgas SEP 22 up 2.5% at 8.34$/mmbtu
- TTF SEP 22 down -2.7% at 193.52€/MWh
- Above normal temperatures are still forecast for much of the US in both the 6-10 day forecast and the 8-14 day forecast. Lower 48 dry gas demand has been relatively unchanged all week and is today estimated at 73.6bcf compared to the seasonal normal of 69bcf.
- Dry gas production is steady at above normal levels and today estimated at 97.6bcf. Exports to Mexico are at 7bcf and while deliveries to LNG terminals are back up to 11.0bcf after dipping as low as 10bcf earlier this week.