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Record Production Pushing US Prices Lower

NATGAS

US Natgas falls to the lowest since mid July with US production up at record high levels over the weekend.

    • US Natgas OCT 22 down -3.2% at 6.61$/mmbtu
  • Lower 48 dry gas production reached 101bcf/d on Saturday to equal the high set on Sep 12. Production is today still estimated over 100bcf/d.
  • US demand has eased back to near normal at 64.6bcf/d from approximately 69bcf/d last week. The two week weather forecast is still favouring above normal temperatures for the central and western US with near normal expected in the east.
  • Exports from the US remain stable with deliveries to LNG export terminals at approximately 11.7bcf/d, although exports to Mexico are just slightly lower than last week at 6.0bcf/d.

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