August 09, 2022 11:36 GMT
Lower temperatures in the US are expected to ease the power sector consumption for natural gas due to cooling demand.
- US Natgas SEP 22 up 1% at 7.66$/mmbtu
- Much of the US is forecast to see temperature cooling over the coming two weeks, especially on the East Coast. Today’s lower 48 demand is expected to be approximately 73.7bcf/d and still well above the average of 69bcf for this time of year.
- Dry gas production last week averaged the highest on record at 98.5bcf.
- Exports remain steady with supply to Mexico at 6.7bcf and deliveries to LNG export terminals at 11.0bcf/d.