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Hot US Temperatures Drive High Demand

NATGAS

US Natgas rises as hot weather continues to drive high domestic demand.

  • US Natgas AUG 22 up 1.9% at 6.81$/mmbtu
  • US lower 48 demand is up at 71.5bcf. Still above normal but lower than over 73bcf in the last couple of days. Yesterday Texas asked homes and businesses to cut back on power use due to high levels of demand and low wind generation. The 6-10 day weather forecast continues to show above normal temperatures for much of the US.
  • Also supporting prices is a slight dip in production to 94.6bcf, although still well above normal.
  • High exports to Mexico are steady at 7.2bcf and gas deliveries to LNG export terminals are higher at 11.4bcf.

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