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US Natgas Steady as Production Off from Peak

NATGAS

US Natgas holding steady after production pulls back from high

  • Front month is trading at 7.75$/mmbtu down from 9.62$/mmbtu on 26th July.
  • Gas production peaked over the weekend at 98.7bcf but has since reduced slightly back to 97$/bbl. This time last year production was around 93.5bcf which at the time was the top of the 5-year range.
  • Domestic demand is still high at 73.8bcf as temperatures remain warm, although the 8-14 day forecast shows some moderation of the heat.
  • Deliveries to US LNG export terminals holding steady at 11.1bcf/d but exports to Mexico have fallen to 5.7bcf from approximately 7.1bcf last week.
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