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NATGAS: US Gas End of Day: Storm Impacts Still in Play

NATGAS
Energy BulletsBulletPower BulletsCommodities

US natgas prices eased slightly on Monday as demand forecasts for the coming two weeks ease and input slightly increases.

  • US Natgas NOV 24 up 0.4% at 2.91$/mmbtu
  • Output has increased as Gulf of Mexico producers return following Hurricane Helene passing the region.
  • Gas demand has been hit bya widespread power outage because of Helene.
  • Speculators boosted their net long futures and options positions on the New York Mercantile and Intercontinental Exchanges for a fourth week in a row to their highest since early July.
  • Gas output in the Lower 48 U.S. states fell to an average of 102.1 bcfd so far in September, down from 103.2 bcfd in August according to LSEG.
  • Average gas demand in the Lower 48 states, including exports, is forecast to rise from 95.9 bcfd this week to 96.6 bcfd next week according to LSEG. Those forecasts were lower than LSEG's outlook on Friday.
  • Gas flows to the seven big U.S. LNG export plants eased to an average of 12.7 bcfd so far in September, down from 12.9 bcfd in August – hit by Cove Points three weeks of annual maintenance from September 20.
  • A finding by U.S. regulator Federal Energy Regulatory Commission on Friday gives support to Venture Global LNG claims that commissioning of Calcasieu Pass in Louisiana is not fully completed, according to Reuters.
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US natgas prices eased slightly on Monday as demand forecasts for the coming two weeks ease and input slightly increases.

  • US Natgas NOV 24 up 0.4% at 2.91$/mmbtu
  • Output has increased as Gulf of Mexico producers return following Hurricane Helene passing the region.
  • Gas demand has been hit bya widespread power outage because of Helene.
  • Speculators boosted their net long futures and options positions on the New York Mercantile and Intercontinental Exchanges for a fourth week in a row to their highest since early July.
  • Gas output in the Lower 48 U.S. states fell to an average of 102.1 bcfd so far in September, down from 103.2 bcfd in August according to LSEG.
  • Average gas demand in the Lower 48 states, including exports, is forecast to rise from 95.9 bcfd this week to 96.6 bcfd next week according to LSEG. Those forecasts were lower than LSEG's outlook on Friday.
  • Gas flows to the seven big U.S. LNG export plants eased to an average of 12.7 bcfd so far in September, down from 12.9 bcfd in August – hit by Cove Points three weeks of annual maintenance from September 20.
  • A finding by U.S. regulator Federal Energy Regulatory Commission on Friday gives support to Venture Global LNG claims that commissioning of Calcasieu Pass in Louisiana is not fully completed, according to Reuters.